Half a century after the 1970s’ stagflation, economies are slowing, even contracting, as prices rise again. Thus, the World Bank
warns, “Surging energy and food prices heighten the risk of a prolonged period of global stagflation reminiscent of the 1970s.”
In March, Reuters
reported, “With surging oil prices, concerns about the hawkishness of the Federal Reserve and fears of Russian aggression in Eastern Europe, the mood on Wall Street feels like a return to the 1970s”.
The world economy is on the brink of outright recession, according to the
International Monetary Fund (IMF). The Ukraine war and sanctions have scuttled recovery from the COVID-19 pandemic.
Human beings have proved to be capable of producing innumerable practical inventions while much too often making the worst use of them. Take the case, per example, of how criminal groups heavily rely on digital platforms to trap and enslave their victims also for extracting and selling their organs.
In the afternoons he draws with chalk on the sidewalk of a downtown street in the Peruvian capital. Passersby drop coins into a small blue jar he has set out. He remains silent in response to questions from IPS, but a nearby ice cream vendor says his name is Pedro, he is 11 years old, and he draws every day on the ground for about four hours.
Many of us assume that an identification with a certain gender, race, nation or even age makes us particularly knowledgeable. When it comes to age, it is in most cultures of the world assumed that age and experience favour wisdom. I am not entirely sure about that, though I am convinced that as we grow older we tend to overestimate our own knowledge and importance. An arrogance that might burden and even marginalize the youth.
Joining or ratifying dubious trade deals is supposed to offer miraculous solutions to recent lacklustre economic progress. Such naïve advocacy is misleading at best, and downright irresponsible, even reckless, at worst.
TPP ‘pivot to Asia’
US President Barack Obama’s ‘pivot to Asia’ after his 2012 re-election sought to check China’s sustained economic growth and technological progress. Its economic centrepiece was the Trans-Pacific Partnership (TPP).
While the world’s big private business pours billions of dollars in producing automatic machines and assuring their optimal functioning, bareley no money has been invested in the hundreds of millions of human workers, who are left shockingly unprotected, treated like cheap robots, or even worse.
Eduardo Reyes, originally from Puebla in central Mexico, was offered a 40-hour workweek contract by his recruiter and his employer in the United States, but ended up performing hundreds of hours of unpaid work that was not authorized because his visa had expired, unbeknownst to him.
For 30 years, Tomasa Chávez visited the Central Market of Buenos Aires and rummaged through the tons of fruits and vegetables that the stallholders discarded, in search of food. Today she continues to do so, but there is a difference: since 2021 she has been one of the workers hired to recover food as part of a formal program launched by the Central Market.
It is time for countries, especially those with
slow growing and
ageing human populations, to welcome
androids, i.e.,
humanoid robots with human-like appearance and behavior, including speech, sight, hearing, mobility, and artificial intelligence.
Older persons are highly visible across Asia and the Pacific: they work in agricultural fields producing our food supplies, peddle their wares as street vendors, drive tuk-tuks and buses, exercise in our parks, lead some of the region’s most successful companies and form an integral part of our families.
The Covid-19 pandemic has impacted lives all over the world. According to this
report, gender is emerging as a significant factor in the social, economic and health effects of Covid-19. Women have been hit much harder socially and economically than men. The greatest and most persistent gender gap was seen in employment and uncompensated labour, with
26% of women reporting loss of work compared with 20% of men globally in September 2021.
At the pier, Salvadoran fisherman Nicolás Ayala checked the pocket of his pants to make sure he was carrying the hypertension pills he must take when he is at sea on a 24-hour shift. He smiled because he hadn’t forgotten them.
Arien Pauls-Garcia’s journey to working with at-risk youth in California was long and dangerous and started at 19 when she found herself sold and exploited by traffickers.
Here goes another fact: 230 million migrant workers are now a major life-saving source for up to one billion people starving in the world’s poorest communities, as well as a vital lifeline for the economy of their countries of origin.
Selimatha Dziedzorm Salifu was just seven years old when she went to work for the first time to support her family.
Born in the fishing village, Kpando-Torkor, in Ghana, Salifu, was forced to go out and work in the local fishing industry when her father Seidu died, leaving her mother, Mary, with six children to feed, clothe and shelter. The industry is well documented for child slavery and trafficking.
Samuel Sasu Adonteng, programme officer for the All-Africa Students Union (AASU), believes that the recent 5th Global Conference on the Elimination of Child Labour has taken us closer to ending child labour for the first time because the voices of those affected were heard.
Lucky Agbavor sleeps on a mattress in a church in Accra, Ghana sells juice to earn an income, and has been a child labourer since he was four. Now he has made an impact on the international stage when he participated in the 5th Global Conference on the Elimination of Child labour.
"All we ever wanted was to keep working. And although we have not gotten to where we would like to be, we know that we can," says Edith Pereira, a short energetic woman, as she walks through the corridors of Farmacoop, in the south of the Argentine capital. She proudly says it is "the first pharmaceutical laboratory in the world recovered by its workers."
A class war is being waged in the name of fighting inflation. All too many central bankers are raising interest rates at the expense of working people’s families, supposedly to check price increases.