HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Editorials & Other Articles (Forum) » The Globalization of Hypo...

Thu May 23, 2013, 10:13 AM

The Globalization of Hypocrisy

By Paul Buchheit

Source: Common Dreams

Tuesday, May 21, 2013

Excerpts:
In this dream world of global capitalism, young people are going from zero income on the farm to a few dollars a day on a 12-hour factory shift, and as a result, based on the World Bank's poverty threshold of $1.25 per day, they're no longer "in poverty." So the media piles on praise for free markets. The Economist proclaimed that "poverty is declining everywhere." The Washington Post gushed that "a billion people have been lifted from poverty through free-market competition."

But the reality is very different. Inequality continues to grow, both between and within countries. Poverty levels haven't changed much in 30 years, with almost half of humanity, up to three billion people, living on less than $2.50 a day. A quarter of the world's children - over 170 million kids under age five - are growing up stunted because of malnutrition.


It may be time to update the company's quote: "We don't have an obligation to solve the world's problems."

Even if there were no obligation to help solve the world's problems, there IS an obligation to pay for global energy consumption and infrastructure usage and industrial pollution. Yet a review of 25 multinational companies shows clear negligence in meeting that responsibility. The 25 companies, with almost a half-trillion dollars in 2011-12 income, paid just 8% in taxes to the U.S. and 9% to foreign countries. A 35% tax -- paid to ANY country or countries -- would have generated another $90 billion over two years, four times the amount needed to battle malnutrition.


Full Article: http://www.zcommunications.org/the-globalization-of-hypocrisy-by-paul-buchheit

0 replies, 641 views

Reply to this thread

Back to top Alert abuse

Reply to this thread