Blame It on Cronyism, Not the Free Market

The current condition of global economic inequality should be of concern to all. An Oxfam report published this year titled, An economy for the 1%, revealed that “the richest 1% now have more wealth than the rest of the world combined.” It also said that "62 of the richest people now own more wealth than the bottom half of the world's population. In 2015 it was the 80 richest, in 2014 it was 85 and in 2010, only six years back, it was 388 richest that owned similar wealth”, showing that inequality is actually growing at an increasing rate. This is also made evident by the fact that “the wealth of the poorest half of the world's population has fallen by a trillion dollars since 2010, a drop of 38 percent" while “the wealth of the richest 62 has increased [during the same period] by more than half a trillion dollars to $1.76 trillion.”

African Farmers Can Feed the World, If Only…

Can African farmers feed the world?. Apparently the answer is “yes.” Bold as it may sound, this statement is based on specific facts: Africa is home to 60-65 per cent of the world’s uncultivated arable land and 10 per cent of renewable freshwater resources, and it has registered a 160 per cent increase in agricultural output over the past 30 years.

Developing Nations Seek Tax Body to Curb Illicit Financial Flows

Despite Western opposition, the 134-member Group of 77 is continuing to pursue a longstanding proposal for an inter-governmental UN-affiliated tax body aimed at combating corporate tax dodging and curbing illicit financial flows, including money laundering and off-shore banking.

The Devil in Development

The word “development” - eliciting as it does grandiloquent notions of progress - has become, at least in Bangladesh, something of a red herring. It is used as a catch-all phrase to justify just about anything — from eviction of slum-dwellers to make way for high-rise housing projects to forceful grabbing of ancestral lands to build eco-parks and tourism spots, from rampant deforestation of our woodlands to unapologetic pollution of our rivers, from undemocratic and top-down imposition of anti-people projects to suppression of dissent through violence both sponsored or otherwise. It matters little that such so-called development only exacerbates the extreme vulnerabilities of people already on the margins, destroys scarce natural resources and intensifies the ever-widening gap between the haves and the have-nots; that it does precisely the opposite of what “development”—real, pro-people development—ought to do. If one protests these actions as unjust, undemocratic or inequitable, one can be easily dismissed as being “anti-development”, and by extension, “unpatriotic”, making it ever more difficult to have any sort of constructive conversation about Bangladesh's development priorities (or the lack thereof).

Climate-Smart Agriculture for Drought-Stricken Madagascar

Mirantsoa Faniry Rakotomalala is different from most farmers in the Greater South of Madagascar, who are devastated after losing an estimated 80 percent of their crops during the recent May/June harvesting season to the ongoing drought here, said to be the most severe in 35 years.

Poverty, Vulnerability and Social Protection

According to the World Bank, the MDG target of halving the share of the poor was achieved by 2008, well in advance of 2015, the target year. However, increased unemployment and lower incomes in recent times remind us that poverty is not an unchanging attribute of a shrinking group, but rather, a condition that billions of vulnerable persons risk experiencing.

Preventing the Next Panic

The hostility toward Wall Street remains so great that both political parties say, in their platforms, that they’d like to break up America’s biggest banks. But before engaging in this drastic economic surgery, it’s worth examining whether Dodd-Frank is working. Recall that the law, named after its congressional sponsors, former Sen. Senator Christopher Dodd and former Rep. Barney Frank, overhauled the financial system to make it more panic proof. Is it? The answer may surprise.

New Alliance to Shore Up Food Security Launched in Africa

As over 20 million sub-Saharan Africans face a shortage of food because of drought and development issues, representatives of the U.N. Food and Agriculture Organisation (FAO) and the Pan African Parliament (PAP) met in Johannesburg to forge a new parliamentary alliance focusing on food and nutritional security.

Newly Empowered Black Farmers Ruined by South Africa’s Drought

Almost half a decade of drought across most of South Africa has led to small towns in crisis and food imports for the first time in over 20 years, as well as severely hampering the government’s planned land redistribution programme.

UN Trade and Development Conference a “Big Win” for Multilateralism

The UN Conference on Trade and Development (UNCTAD) concluded its five-day meeting in Nairobi on a positive note—the launch of a new e-trade initiative and a multi-donor trust fund on trade and productive capacity.

Chronic Hunger Lingers in the Midst of Plenty

In a fraught global economic environment, exacerbated by climate change and shrinking resources, ensuring food and nutrition security is a daunting challenge for many nations. India, Asia's third largest economy and the world's second most populous nation after China with 1.3 billion people, is no exception.

US Government Report Exposes Exaggerated TPPA Growth Claims

A US government agency acknowledges that the Trans-Pacific Partnership (TPP) will not deliver many economic benefits promised by its cheerleaders. The 2016 report by the United States International Trade Commission (ITC) acknowledges that the TPP will not deliver many gains claimed by the US Trade Representative (USTR) and the Peterson Institute of International Economics (PIIE) although it uses similar methodology and assumes that the TPP will not change the US trade deficit as a share of GDP.

African Leaders Driving Push for Industrialisation: UN Official

Industrialisation in Africa is being driven by African leaders who realise that industries as diverse as horticulture and leather production can help add value to the primary resources they currently export.

Fertilizer Access Grows Farmers, Food and Finance

Brightly coloured cans, bags of fertilizer and packets containing all types of seeds catch the eye upon entering Nancy Khorommbi’s agro dealer shop tucked at the corner of a roadside service station.

Enemy Images

Members of Congress have embarrassed themselves, this time by a joint subcommittee hearing on whether Pakistan is a friend or foe. Framing a congressional hearing in this binary way reflects the sad state of political discourse on Capitol Hill, where complex issues are boiled down to ‘yes’ or ‘no’ answers. Members of Congress dress themselves in righteous indignation and confuse leadership with generating headlines.

Biswal’s Dreams Just Pretentious Prattle

So Nisha Biswal, the US State Department’s point person on Sri Lanka, says that Sri Lanka could be another Singapore. That will be the day. If after six visits to the country in 20 months she has still not grasped the basics of Sri Lanka’s socio-political culture and mores, the lack of respect for law and order and the rule of law infused by political interference and intimidation, she could hardly be a messenger of hope and good sense.

Beyond Rhetoric: UN Member States Start Work on Global Goals

UN member states “are going beyond rhetoric and earnestly working to achieve real progress” towards the Sustainable Goals, the members of the Group of 77 and China said in a ministerial statement delivered here on 18 July.

San Juan City: The Smart City of the Future

The Philippines has so much to offer to the world, not only ecological treasures by way of tourism, but brilliant minds, visionaries, and craftsmen. Other nations find the uniqueness and diversity of our ecology unimaginable—such as having the third-longest coastline in the world as well as endemic species of plants and animals. Another unimaginable phenomenon, our economy remains strong despite the fact we are crossed by an average of 21 typhoons a year and is located in the Pacific Ring of Fire—prone to eruption of active volcanoes, and earthquakes.

Economic Recovery Needed To Enhance Food Security

After a half century of decline, agricultural commodity prices rose with oil prices in the 1970s, and again for a decade until 2014. Food prices rose sharply from the middle of the last decade, but have been declining since 2012, and especially since last year, triggering concerns of declining investments by farmers.

International Trade Favours Multinational Corporations

Trade is sometimes thought of as an economic activity that only favours the large corporations. While we may disagree, the reality of international trading is often harder and more expensive for Micro, Small and Medium Enterprises (MSMEs). The smaller the business, the bigger the barriers can seem.

Germany’s Energy Transition: The Good, the Bad and the Ugly

Immerath, 90 km away from the German city of Cologne, has become a ghost town. The local church bells no longer ring and no children are seen in the streets riding their bicycles. Its former residents have even carried off their dead from its cemetery.