Lower interest rates and longer-term paybacks that match the pace of underlying social progress are key to successful development finance, writes Jeffrey Sachs.
The Poverty Trap
Category: Income Inequality
There Is Wealth, But No Life in the Factories
The class struggle is alive and well, writes Vijay Prashad. Although one of the weaknesses of our time is that massive mobilizations have not been easily converted into political power.
Ukraine’s Big Mistake
From criminality during Perestroika and privatizations to the problem with Russia’s “imperialist war” designation, Natylie Baldwin discusses a wide range of subjects with the author of The Catastrophe of Ukrainian Capitalism.
Harry Belafonte — Confronting the ‘Triple Evils’
Both the late singer and his close friend Martin Luther King Jr. saw their civil rights advocacy as the cutting edge of a still broader struggle for equality, writes Sam Pizzigatti.
Chris Hedges: The United States of Paralysis
The longer the corporate state erodes the social bonds that provide a sense of purpose and meaning the more inevitable an authoritarian state and a Christianized fascism becomes.
Chris Hedges: Reclaiming US Universities
American universities are appendages of the corporate state. Educators are increasingly poorly paid, denied benefits and job security while senior administrators pay themselves obscene salaries.
The IMF’s ‘Austerity Drive’
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 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.