Oxfam estimated that “for every $1 the IMF encouraged a set of poor countries to spend on public goods, it has told them to cut four times more through austerity measures.”
The IMF’s ‘Austerity Drive’
Category: Income Inequality
The Lying IMF
Alternative sources of financing are beginning to empower poorer nations in the Global South to pursue projects grounded in genuine development theory, writes Vijay Prashad.
No Billion-Dollar Bailouts For Africa
Despite the millions more people in Africa — particularly women — now engulfed by extreme poverty after Covid, Vijay Prashad notes the absence of urgent phone calls between world capitals or emergency Zoom meetings between central banks.
Eight Contradictions of Imperialist ‘Rules-Based Order’
The neoliberal system is deteriorating under the weight of numerous internal contradictions, historical injustices and lack of economic viability, writes Vijay Prashad.
East Germany & the True Test of a Civilization
Vijay Prashad recalls the DDR’s efforts to create a humane and just health care system, with few resources available, in a country devastated by World War II.
Chris Hedges: Woke Imperialism
Diversity is important. But when it is devoid of a political agenda it recruits a tiny segment of those marginalized by society into unjust structures to help perpetuate them.
What Makes a Thieving Culture
With an eye on the layoffs underway in the tech sector, Sam Pizzigati says the most accomplished corporate thieves never fear indictment. They steal in broad daylight.
UK Workers Launch Largest Strike in Over a Decade
The walkout comes a day after members of Parliament approved an anti-strike bill that, if made into law, would enforce “minimum service levels” for railroads and emergency services, Julia Conley reports.
France Erupts Against Macron’s Pension Plan
Despite widespread opposition to raising the retirement age, many French lawmakers remain determined to fulfill the president’s election pledge to overhaul the nation’s pension system, Kenny Stancil reports.
Workers and Democracy
Vijay Prashad highlights workers’ struggles in the second half of the 20th century against Third World dictatorial regimes put in place by anti-communist oligarchies and their allies in the West.