Tuesday, 2 September 2008

Capitalists create poverty then report on it....

A recent report from the World Bank (WB) estimates that 400Million more people are living in poverty than was previously thought. Here is a quote:

"August 26, 2008—New poverty estimates published by the World Bank reveal that 1.4 billion people in the developing world (one in four) were living on less than US$1.25 a day in 2005, down from 1.9 billion (one in two) in 1981."

Note that they are talking about poverty in the 'developing world' here. No mention of poverty in countries like the USA where about 37 Million live below the official US poverty line. Incredibly 58.5% of Americans will find themselves living in poverty between the ages of 25 and 75 at some stage in their lives .

Of course you might also want to consider the measure of poverty at $1.25 a day. When you look at the number of people who live on less than $2 a day the number doubles to 3 Billion, about half the world's population.

Its interesting that the World Bank should show such concern. Particularly when privatisation, deregulation and expropriation of natural resources by multinational corporations, are policies that the World Bank and the International Monetary Fund (IMF) force on countries in the developing world - its called globalisation. In April protesters demonstrated against these globalisation policies at the World Bank meeting in Georgetown.

Countries like the USA and the UK were able to develop their economies protected from the kind of predatory capitalist measures supported by the WB AND IMF. That is how our economies became developed. The developed west, through the WB and IMF is now denying 'developing countries' that same opportunity to develop by insisting on the form of economic imperialism called globalisation.

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