Aid payments are dwarfed by what’s lost to spurious debts, profit extraction, and dodgy invoicing, but help to feed a narrative of the industriousness and benevolence of developed countries.
“What this means is that the usual development narrative has it backwards. Aid is effectively flowing in reverse. Rich countries aren’t developing poor countries; poor countries are developing rich ones.”
“In other words, for every $1 of aid that developing countries receive, they lose $24 in net outflows“
“Ryanair is to recognise pilot unions for the first time in its 32-year history in an attempt to prevent strikes in the run-up to Christmas.”
“Ryanair’s share price fell almost 8% on Friday after its announcement.”
This system is broken.
A couple of book recommendations from Dr Malham: 23 Things They Don’t Tell You About Capitalism and Economics: The User’s Guide, both by Ha-Joon Chang.
If money is the end, anything is game for the means. “Don’t be evil” evidently not compatible with “unending pursuit of profit”. https://www.theguardian.com/technology/2017/oct/19/google-facebook-anti-refugee-campaign-secure-america-now
Really enjoying @paulmasonnews’ reading of Postcapitalism. Makes the book very accessible.
the ‘increasing role of financial motives, financial markets, financial actors and financial institutions in the operation of the domestic and international economies’
“One of the most worrying long-term consequences of financialisation is the reduction in the capacity of democratic states to meet the demands of their citizens over the demands imposed on them by financial and corporate institutions, institutions which are increasingly free from the responsibilities that were imposed upon them by confident social democracies in the middle of the last century.”