The Global System is Unequal and Creates Exclusion
With the dominant economic model:- The focus is on competitivity
- The race for profits and the hoarding of resources put human rights lower down the chain of priorities and lead to a situation where workers have to compete with one other
- Producers are exploited and vulnerable
- Our social bonds, our solidarity and our ecosystems are being destroyed
Economic Policies for the Benefit of the Most Powerful
Globalisation in its current form embodies a continuing of post- and neo-colonial logic. The shift of international policies from a 'development' approach towards a 'combatting poverty' approach has actually further impoverished populations by favouring the interests of the market to the detriment of people’s needs.In 2017, 700 million people live under the poverty threshold of $1.90 per day.
The income of the richest 1% rose 182 times quicker than the income of the poorest 10% between 1988 and 2011.
The Financialisation of the Economy
The domination of financial powers - banks, insurance companies, investment funds, etc. - over the real economy is one of the major causes of poverty and extreme poverty.Short-term profitability is behind investment decisions and capital flows, entailing a social, fiscal and environmental downward spiral. When they deem it profitable banks and private investment funds interfere in basic services such as education, housing, health, culture, etc. in order to make them into merchandise.
Complacency with Tax Optimisation and Tax Evasion
Independent Studies estimate that at least $273 billion - and probably much more - falls through the nets of states due to the concealing of huge financial assets in tax havens.This tax evasion means that governments lack resources to finance social protection and common goods, in particular in southern countries where the amounts lost equate to much more than the totals of international public aid.
Forced Labour and Human Trafficking Tolerated and Left Unpunished
According to the International Labour Organisation 21 million people are currently in a situation where they are forced to work, generating 150 billion dollars in profit per year.
Persistent Inequality between Men and Women
On the global scale women earn less than 60% of what men earn despite working longer hours (hours which are sometimes unpaid).Back to content