Privatization Promotes Collusion and Corruption

At the risk of reiterating what should be obvious, the question of private or public ownership is distinct from the issue of competition or market forces. Despite the misleading claim that privatization promotes competition, it is competition policy, not privatization, that promotes competition.

Lost in the Cyberworld? The Enigmatic Mr Assange

Trump´s electoral success was preceded by a rise of chauvinistic politics in most of Europe, paired with electoral triumphs of far-right candidates in several other countries. A development accompanied by revelations of corrupt leaders laundering and transferring illegally obtained money, aided by financial institutions finding the means to do so. The world seems to move away from a rule-based order to a state of affairs dominated by might and wealth. World leaders´ private business dealings thrive within a global environment where laws intended to protect human rights are becoming increasingly ineffective. Foreign policies appear to be adapted to private gains and personal vendettas. Global financial systems seem to be crafted to facilitate kleptocracy and money laundering, while repression and violence smite whistle-blowers and daring journalists. Endeavours supported by propaganda and smear campaigns orchestrated by political/financial consultants and private investigation firms. All this is made possible through complicated schemes using the internet.

CORRECTED VERSION: World Bank Dispossessing Rural Poor

The World Bank’s Enabling the Business of Agriculture (EBA) project, launched in 2013, has sought agricultural reforms favouring the corporate sector. EBA was initially established to support the New Alliance for Food Security and Nutrition, initiated by the G8 to promote private agricultural development in Africa.

World Bank Financialization Strategy Serves Big Finance

The World Bank has successfully built a coalition to effectively advance its ‘Maximizing Finance for Development’ (MFD) agenda. The October 2018 G20 Eminent Persons Group’s (EPG) report includes proposals to better coordinate various international financial institutions (IFIs) in promoting financialization.

The Crucial Role of the Military in the Venezuelan Crisis

In January 2019 Venezuela’s opposition-led National Assembly swore in congressman Juan Guaidó as the country’s interim president. Guaidó’s claim to power is a severe blow against the already weakened government of Nicolás Maduro, whose re-election as president in May 2018 was widely rejected by the international community and deemed illegitimate by over 50 foreign governments.

Has Privatization Benefitted the Public?

In most cases of privatization, some outcomes benefit some, which serves to legitimize the change. Nevertheless, overall net welfare improvements are the exception, not the rule. Never is everyone better off. Rather, some are better off, while others are not, and typically, many are even worse off. The partial gains are typically high, or even negated by overall costs, which may be diffuse, and less directly felt by losers.

World Bank Financializing Development

The World Bank has successfully legitimized the notion that private finance is the solution to pressing development and welfare concerns, including achieving the Sustainable Development Goals (SDGs) through Agenda 2030. A recent McKinsey report estimates that the world needs to invest about US$3.3 trillion, or 3.8 per cent of world output yearly, in economic infrastructure, with about three-fifths in emerging market and other developing economies, to maintain current growth.

Belt and Road Initiative vs Washington Consensus

With the Washington Consensus from the 1980s being challenged, President Donald Trump withdrawing the United States from the Trans-Pacific Partnership (TPP), and China pursuing its Belt and Road Initiative (BRI), most notably with its own initiatives such as the multilateral Asian Infrastructure Investment Bank (AIIB), the political and economic landscape in East Asia continues to evolve. Jomo Kwame Sundaram was interviewed about likely implications for developing countries in the region and beyond.

Promoting Privatization

Privatization has been central to the ‘neo-liberal’ counter-revolution from the 1970s against government economic interventions associated with Roosevelt and Keynes as well as post-colonial state-led economic development. Many developing countries were forced to accept privatization policies as a condition for credit or loan support from the World Bank and other international financial institutions, especially after the fiscal and debt crises of the early 1980s. Other countries voluntarily embraced privatization, often on the pretext of fiscal and debt constraints, in their efforts to mimic new Anglo-American criteria of economic progress.

The Crisis in Venezuela

My mission to Venezuela in November/December 2017 was the first by a UN rapporteur in 21 years. It was intended to open the door to the visit of other rapporteurs and to explore ways how to help the Venezuelan people overcome the protracted economic and institutional crisis.

Millions of Venezuelans in Need of Protection

The international community must extend protections for Venezuelans in light of a growing humanitarian crisis with no end in sight. Human Rights Watch has urged governments in the Americas to provide temporary protection to the millions of Venezuelans fleeing a severe humanitarian crisis.

Ignorance-Inspired Brexit Imperial Nostalgia

As the possible implications of Britain’s self-imposed ‘no-deal’ exit from the European Union loom larger, a new round of imperial nostalgia has come alive. After turning its back on the Commonwealth since the Thatcherite 1980s, some British Conservative Party leaders are seeking to revive colonial connections in increasingly desperate efforts to avoid self-inflicted marginalization following divorce from its European Union neighbours across the Channel.

Agribusiness Is the Problem, Not the Solution

For two centuries, all too many discussions about hunger and resource scarcity has been haunted by the ghost of Parson Thomas Malthus. Malthus warned that rising populations would exhaust resources, especially those needed for food production. Exponential population growth would outstrip food output.

Economic Crisis Can Trigger World War

Economic recovery efforts since the 2008-2009 global financial crisis have mainly depended on unconventional monetary policies. As fears rise of yet another international financial crisis, there are growing concerns about the increased possibility of large-scale military conflict.

Beware Proposed E-commerce Rules

In Davos in late January, several powerful governments and their allies announced their intention to launch new negotiations on e-commerce. Unusually, the intention is to launch the plurilateral negotiations in the World Trade Organization (WTO), an ostensibly multilateral organization, setting problematic precedents for the future of multilateral negotiations.

A New Spectre is Haunting Europe

After Theresa May’s defeat in the British parliament it is clear that a new spectre is haunting Europe. It is no longer the spectre of communism, which opens Marx’s Manifesto of 1848; it is the spectre of the failure of neoliberal globalisation, which reigned uncontested following the fall of the Berlin Wall, until the financial crisis of 2009.

Gloom Ahead of World Economic Storm

In light of the uncertainty caused by the US-China trade war, the IMF expects the US economic growth to slow from a three-year high of 2.9 per cent in 2018 to 2.5 per cent in 2019, while China’s expansion has already slowed in recent years, albeit from much higher levels.

Rethinking Free Trade Agreements in Uncertain Times

After US President Donald Trump withdrew from Obama’s Trans-Pacific Partnership (TPP), involving twelve countries on the Pacific rim, on his first day in office, Japan, Australia and their closest allies proposed and promoted the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) to draw the US back into the region to counter China’s fast-growing power and influence.

Time for a new Paradigm

The person most qualified to write the foreword for the latest work by Riccardo Petrella, In the Name of Humanity, would actually be Pope Francis, who, using other words but speaking of values and making denouncements, has often argued what the reader will find in its pages.

Stopping Criminals from Laundering Their Trillions

Al Capone had a problem: he needed a way to disguise the enormous amounts of cash generated by his criminal empire as legitimate income. His solution was to buy all-cash laundromats, mix dirty money in with clean, and then claim that washing ordinary Americans’ shirts and socks, rather than gambling and bootlegging, was the source of his riches.

Aborted Fuel Tax Initiative in France: Its Ramifications for Green Growth

Emmanuel Macron was voted to French Presidency in 2017 with the mission of strengthening the integration of the European Union and pursuing economic and ecological reforms. So from the outset, he was set to distinguish himself, not just in Europe but on the world stage, especially after President Trump pulled the United States out of the Paris Agreement. So Macron held the summit meeting on `One Planet’ in Paris last December to push for stronger environment and climate policy. He also spoke of the environment when he addressed the Congress in April 2018, stating that “Let us face it: There is no Planet B.”ⁱ