As the European elections loom, legislation addressing the root causes of poverty must move to the top of the agenda.
Fighting poverty: directive on minimum income needed (socialeurope.eu)
Author: Francine (page 25 of 88)
The extraction of wealth is a pathology of late capitalism and is defined by the cultural and political processes by which the rich establish themselves as the dominant class. Social theorist and organizer Marjorie Kelly labels this phenomenon “wealth supremacy” which is also the title of her latest book. But as she points out in this exclusive interview for Truthout, wealth supremacy, which has institutionalized greed, defines a system that is not only biased but rigged against the great bulk of the population and thus detrimental to the economy, the citizens and the planet. She argues, in turn, that a movement to build a democratic economy is our only way out.
The Only Solution to “Wealth Supremacy” Is a Democratic Economy | Truthout
Contractionary economic trends since 2008 and ‘geopolitical’ conflicts subverting international cooperation have worsened world conditions, especially in the poorest countries, mainly in Africa, leaving their poor worse off.
Conditions and prospects are so bad that two well-known globalisation cheerleaders have appealed to rich nations for urgent action. Former IMF Deputy Managing Director and World Bank Senior Vice-President, Professor Anne Krueger and influential Financial Times columnist Martin Wolf warn ominously of the dire consequences of inaction.
Article by Jomo Kwame Sundaram
Some thoughts on Ingrid Robeyns’ excellent book: Must we limit the wealth of the wealthiest?
Tesla’s confrontation with Swedish workers highlights how solidarity must be enabled in a globalised Europe.
Time to recognise a fifth EU freedom: solidarity (socialeurope.eu)
We are much closer to seeing the world’s first trillionaire than ending poverty. Why? Because our economic system works for the few richest individuals, often men, who reign over our economy.
Taxing wealth to break billionaire dominance (socialeurope.eu)
A comment of the People’s Health Movement on a recent report of the World Health Organisation
Universal health coverage stalls while financial protection goes backwards (mailchi.mp)
Oxfam called on Monday for governments to rein in corporate power by breaking up monopolies; instituting taxes on excess profit and wealth; and promoting alternatives to shareholder control such as forms of employee ownership.
It estimated that 148 top corporations made $1.8 trillion in profits, 52 percent up on 3-year average, allowing hefty pay-outs to shareholders even as millions of workers faced a cost of living crisis as inflation led to wage cuts in real terms.
As Davos crowd gathers, governments urged to rein in ‘billionaire class’ (yahoo.com)
Since 2020, the richest five men in the world have doubled their fortunes. During the same period, almost five billion people globally have become poorer. Hardship and hunger are a daily reality for many people worldwide. At current rates, it will take 230 years to end poverty, but we could have our first trillionaire in a decade.
The nex Oxfam Report!
If we assume that workers and people at the bottom of society can acquire only a fixed amount of society’s income, then all such people are in competition with one another for shares of this fixed amount. And groups that identify with one another in some way—by race in particular—are in competition with other such groups. With a fixed share of the economic “pie,” more for one group means less for the other.
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