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A world for the many, not the few

A world for the many, not the few

“The very notion of ‘charity’ erases a global history of slavery and oppression”. Asad Rehman applauds Labour’s ambition to overhaul neo-colonial development policy

Illustration by Andrzej Krauze

In 1792, pioneering British feminist and social justice activist Mary Wollstonecroft wrote in her seminal book The Rights of Women, ‘It is justice, not charity, that is wanting in the world.’ Two centuries later, the shadow international development minister, Kate Osamor, a black feminist with a background in social justice activism, has anchored that fundamental truth in Labour’s vision for international development, ‘A World For the Many, Not The Few’. In doing so, she has committed the Labour Party to putting social justice at the heart of its international agenda and listening to the voices of those facing the greatest injustices: women in the global south.

For too long, politicians and, to their shame, many in the development sector have ignored the key driver of global poverty: neoliberal capitalism, a failed economic system whose rules are stacked in favour of corporate elites. They have stayed silent on the culpability of Britain in promoting unfair trade rules, creating new debt burdens, forcing privatisations and entrenching oppressive neo-colonial power dynamics on the international stage.

The new colonialism

The idea of ‘international development’ was constructed in the post-war era to cover up the deliberate ‘underdevelopment’ of the global south. During colonialism, Britain and the other industrial powerhouses had enriched themselves by extracting resources and slave labour from their colonies. They deliberately impoverished the south and, in the process, killed countless millions across Latin America, Africa and Asia. It is estimated that the UK extracted £600 trillion during its colonisation of India alone, reducing India’s pre-colonial share of the global economy from 27 per cent to just 3 per cent by the time the British left.

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Privatization Is the Atlanticist Strategy to Attack Russia

NOTE: Readers are asking to know who, in addition to the Western-financed NGOs, are the Fifth Columnists inside Russia. Michael Hudson and I left the description general as Atlanticist Integrationists and neoliberal economists. The Saker provides some specific names. Among the Fifth Columnists are the Russian Prime Minister, head of the Central Bank, and the two top economics ministers. They are springing a privatization trap on Putin that could undo all of his accomplishments and deliver Russia to Western control.  
http://thesaker.is/putins-biggest-failure/

Privatization Is the Atlanticist Strategy to Attack Russia


Two years ago, Russian officials discussed plans to privatize a group of national enterprises headed by the oil producer Rosneft, the VTB Bank, Aeroflot, and Russian Railways. The stated objective was to streamline management of these companies, and also to induce oligarchs to begin bringing their two decades of capital flight back to invest in the Russia economy. Foreign participation was sought in cases where Western technology transfer and management techniques would be likely to help the economy.

However, the Russian economic outlook deteriorated as the United States pushed Western governments to impose economic sanctions against Russia and oil prices declined. This has made the Russian economy less attractive to foreign investors. So sale of these companies will bring much lower prices today than would have been likely in 2014

Meanwhile, the combination of a rising domestic budget deficit and balance-of-payments deficit has given Russian advocates of privatization an argument to press ahead with the sell-offs. The flaw in their logic is their neoliberal assumption that Russia cannot simply monetize its deficit, but needs to survive by selling off more major assets. We warn against Russia being so gullible as to accept this dangerous neoliberal argument. Privatization will not help re-industrialize Russia’s economy, but will aggravate its turn into a rentier economy from which profits are extracted for the benefit of foreign owners.

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In Defense of the Commons

In Defense of the Commons

“Enclosures have appropriately been called a revolution of the rich against the poor.”

Karl Polanyi, The Great Transformation. 1944. (p. 35)         

Shared access, reliance, use and governance of natural resources is a common form of tenure in the world, North and South, rural and urban.  The specific rules and institutions that govern common property are very diverse, developed by communities groups on their own direct experience and reflecting their priorities. Where well managed, such systems have proven capable of preserving the long term health of the resources and sustained benefits to the community relying on them.  Common spaces are under increasing threat – their resources are grabbed for private interests, mined and degraded for short term gains. A critical factor in this is the weakening of common property management systems, undermined as the paradigms of privatisation and market commodification have dominated policy development. Networks and movements of the poor around the world are reacting to the destruction of their natural resources, and standing up in defence of the commons and the common property systems which sustain them.  This article identifies some of the threats to the commons and highlights the resistance of local people.    


Imagen 1

The commons refer to forms of wealth that belong to all of us and that must be actively protected and managed for the good of all.  Commons can be natural, such as air, water, land, forests and biodiversity; social and institutional, such as public goods, spaces and services; political, such as collectively held notions of democracy, justice and governance; and intellectual and cultural, such as general knowledge, everyday technology, shared music and scientific truths.

– See more at: http://commonstransition.org/in-defense-of-the-commons/#sthash.M2tM7XzW.dpuf

 

Austerity in Greece – What Has Gone Wrong?

Austerity in Greece – What Has Gone Wrong?

A Brief Update on Recent Developments

On Friday, the Greek government has submitted its latest reform proposals to the EU. According to press reports, these are supposed to raise €3 billion and consist of the following:

“[…] moves to combat tax evasion, more privatizations and higher taxes on alcohol and cigarettes. […] The Greek government said the 18-point reform program did not include any “recessionary measures”.”

In the meantime it has also emerged that the privatization of the port of Piraeus, which Syriza had previously reportedly opposed is about to go forward after all, and is expected to bring in proceeds of around € 500 m. Pressure on the Greek government has recently increased, not only due to the fact that it is expected to run out of money soon, but also as a result of a downgrade of its credit rating by Fitch late last week to a lowly CCC rating. This makes it even less likely that the government will be able to roll over maturing treasury bills.

Below are the most recent updates of domestic deposit outflows and central bank credit to the banking sector, showing the situation as of the end of February. Note that we have adjusted the data on deposit outflows by deducting all government deposits from the domestic deposits time series, so that only the deposits of Greek households and business are shown.

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Olduvai IV: Courage
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Olduvai II: Exodus
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