Poverty
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Incoming World Bank President Ajay Banga’s predatory-finance background threatens even more prolific Bank poverty-creation
12 April 2023 - by Patrick Bond, Milford Bateman, Lena Lavinas, Erin Torkelson
Should the incoming World Bank president, Ajay Banga, be allowed to take office without a full investigation into his predatory-financing history, especially as a visionary leader of MasterCard committed to ‘financial inclusion’? A great deal (...) -
Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years
17 January 2023 - by Oxfam
The super-rich outstrip their extraordinary grab of half of all new wealth in past decade. Billionaire fortunes are increasing by $2.7 billion a day even as at least 1.7 billion workers now live in countries where inflation is outpacing wages. (...) -
Brazil’s economic and political rollercoaster
31 October 2022 - by Michael Roberts
The latest polls put Workers Party leader Lula de Silva ahead in the two-horse race with incumbent right-wing President Jair Bolsonaro in today’s final round of the presidential election in Brazil. If Lula wins, it will be a dramatic comeback (...) -
‘There is no money left’: Covid crisis leaves Sri Lanka on brink of bankruptcy
2 February 2022 - by Minoli de Soysa, Hannah Ellis-Petersen
Sri Lanka is facing a deepening financial and humanitarian crisis with fears it could go bankrupt in 2022 as inflation rises to record levels, food prices rocket and its coffers run dry. The meltdown faced by the government, led by the (...) -
World inequality report 2022
12 December 2021 - by Thomas Piketty, Lucas Chancel, Emmanuel Saez, Gabriel Zucman
The job of holding up a mirror to the world can be a frustrating one. When the news is persistently bad, when the mirror highlights more wrinkles than we want to face up to, it is easy enough to find excuses—we are about to turn the corner, (...) -
Afghanistan Facing Famine
15 November 2021 - by Human Rights Watch
Donor countries, the United Nations, and international financial institutions should urgently address Afghanistan’s collapsed economy and broken banking system to prevent widespread famine, Human Rights Watch said today. The UN World Food (...) -
The World Bank and IMF are using flawed logic in their quest to do away with the informal sector
10 November 2021 - by Mike Rogan, Max Gallien, Vanessa van den Boogaard
Many low and middle-income countries face a myriad of challenges. But policies that can address them are few and far between. The challenges include high and rising inequality, budget crises and the ongoing pandemic. In a set of recent outputs, (...) -
What can be done now to ameliorate poverty, unemployment and inequality?
2 August 2021 - by Jeff Rudin, Jonathan Cannard, Bruce Baigrie, Maxine Bezuidenhout, Jaco Oelofson, Keamogetswe Seipato
“What are the status quo limits to what can be done about poverty, unemployment and inequality?” This sentence, buried deep in a recent Daily Maverick article by one of us, evoked a sizable response, some sympathetic, others hostile. The already (...) -
1% own 45% of the world’s personal wealth while nearly 3bn people have little or no wealth at all
24 June 2021 - by Michael Roberts
Just 56m or 1% of adults out of 5.3bn globally are millionaires in net wealth terms. And they own 45% of all global personal wealth. The other 99% own the rest and there are nearly 3bn people in the world that have little or no wealth at all (...) -
To Address Increasing Inequality and Global Poverty, We Must Cancel Debt
16 June 2021 - by Eric Toussaint, C.J. Polychroniou
Massive debt levels are a feature of contemporary capitalism that cannot be eradicated without radical change, says political scientist Éric Toussaint “The indebtedness of the working classes is directly connected to the widening poverty gap and (...) -
Migrant Women Are Holding Society Together During This Pandemic
14 April 2021 - by Taroa Zuñiga Silva
The past year has seen several lockdowns as a result of the pandemic, which have had a deep impact on education, employment and the way we work globally. These factors have had an especially stark effect on women. For more than 168 million (...) -
Covid 2021: more calamity ahead?
4 December 2020 - by Michael Roberts
The news that a COVID-19 vaccine could well be available by the start of 2021 sent the stock markets of the world shooting up to new record levels. However, the rally was quickly tempered by the rocketing rise in COVID-19 infections as the (...) -
South/North / Developing Countries/Developed Countries – What is it all about?
11 February 2020 - by CADTM
Lexical choices that are not neutral The terms used to designate the different categories of countries convey the theoretical and political divergences in terms of analysis and strategy. Generally, these divergences are related to the social (...) -
The top 1% own 45% of all global personal wealth; 10% own 82%; the bottom 50% own less than 1%
6 November 2019 - by Michael Roberts
The annual Credit Suisse (CS) report on global wealth has just been released. This report remains the most comprehensive and explanatory analysis of global wealth (not income) and inequality of wealth. Every year the CS global wealth report (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 5)
Local South African Economic Conditions
6 November 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
As the world economy spirals into crisis stage, with fully-fledged deglobalisation and a new round of financial turmoil, the South African context is just as foreboding. Corporations and workers alike are ill prepared for the period ahead, (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 2)
Global Economic Volatility and Socio Political Reactions
16 October 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
Trade and currency wars, financial volatility and economic turbulence are now the most important features of the world economy. The elements of a new international financial crisis are in place. Although we do not know when it will break out, (...) -
South Africa: Resistance and Research for Alternatives to Illegitimate Debt and for Ecosocialism
3 May 2019 - by Eric Toussaint
Report on the CADTM International mission to South Africa 31 March – 12 April 2019, part 2. First part available here Wednesday 3 April: Cape town and Cape of Good Hope: highly visible social and racial segregation The fourth day was (...) -
From the BRICS countries to the townships: racial and social segregation continues
22 April 2019 - by Eric Toussaint
Over 25 years ago now the people of South Africa won the struggle to end the Apartheid regime. [1] Nevertheless, even though it is now against the law, de facto racial segregation is still apparent. Moreover the capitalist assault on the (...) -
Financial globalization, N-S wealth distribution, resource transfers
18 February 2019 - by Yilmaz Akyüz
Geneva, 6 Feb (IPS/Yilmaz Akyuz*) — At a time when the world economy is seen poised for yet another financial turmoil, there is a widespread recognition that emerging economies (EMEs) are particularly vulnerable because of their deepened (...) -
Gilets jaunes (yellow vests): learning from history and acting now
11 December 2018 - by Eric Toussaint
Some consider that if you are involved in a movement against a tax (supposed, in theory at least, to redistribute wealth) rather than for higher wages, say (in the broad sense, including social security), you are part of a right-wing movement. (...) -
Liberia: The “dictatorship of the multinational corporations”
4 October 2018 - by Moses Uneh Yahmia
Liberia has been taken over by multinational corporations that are exploiting its resources at the expense of Liberians, especially the country’s working class that serves as cheap labour to these foreign companies. Unlike other countries in (...) -
UN Human Rights Council passes a resolution adopting the peasant rights declaration in Geneva
1 October 2018 - by La Via Campesina
(Geneva, September 28, 2018) Seventeen years of long and arduous negotiations later, peasants and other people working in rural areas are only a step away from having a UN Declaration that could defend and protect their rights to land, seeds, (...) -
Pro-poor or anti-poor? The World Bank and IMF’s approach to social protection
13 April 2018 - by Stephen Kidd
In recent years, the World Bank and IMF have played an influential role in shaping national social protection policies. Social protection comprises a significant share of World Bank loans, reaching almost 10 per cent of lending to low-income (...) -
The Power of a Dollar
11 April 2018 - by Milford Bateman
Microcredit is nothing more than a socially validated way for financial elites to exploit the poor. hirty years ago the international development community was ecstatic. It had found the perfect market-affirming solution to poverty in (...) -
Whether in the South or in the North, women bear the burdens of the debt crisis and structural adjustment policies
23 March 2018 - by Chiara Filoni
The CADTM (Committee for the abolition of illegitimate debt) is an International network that has, over the past thirty years, warned of the effects of illegitimate debt and structural adjustment policies. Public debt and the austerity (...)
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