The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
Ebrahim-Khalil Hassen -
Minister Trevor Manuel referred to debates on the size of deficits as an illusionary delusion, asking South Africans to focus on the effectiveness and quality of spending. Underlying this perspective is an important assumption that tough choices in economic policy have placed us in a better position.
Today, we have more money, and are able to responsibly increase the deficit, because of these choices, argues Minister Manuel. Assessing the record of government in this manner is however, an...
Rebecca Solnit -
In December, reports surfaced that Treasury Secretary Henry Paulson pushed his Wall Street bailout package by suggesting that, without it, civil unrest in the United States might grow so dangerous that martial law would have to be declared. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), warned of the same risk of riots, wherever the global economy was hurting. What really worried them wasn't, I suspect, the possibility of a lot of people thronging the...
The Real News Network (TRNN) reports that protests are on the increase as a result of economic hardship emanating from the global financial meltdown. TRNN reports that there is a growing consensus that global elites are not qualified to handle the world's problems, leading to massive demonstrations against elites. On 1 February 2009, government representatives and corporate executives returned from the World Economic Forum in Davos. The Associated Press reported "The world's...
Glenn Ashton -
Major retailers like Pick n Pay have asked suppliers for explanations as to why the food costs have remained high, while transport and input costs have fallen. This is indicative of fundamental problems in the food marketplace.
The cynical world view of many, that food producers are all too quick to raise prices when margins are threatened but loath to reduce them when increased profits are locked in, appears valid.
There is usually a lag for input costs to affect prices of grocery items;...
The World Economic Forum is taking place from 28 Jan to 01 Feb 2009 in Davos, Switzerland. From most reports, it sounds like a gloomy event where some of the chief culprits behind the global financial crisis are gathering for their annual hobnob. This time round, some navel gazing is anticipated. Pablo Camacho won the 2009 YouTube Davos Debates competition that posed the question: Should CEOs have a code of ethics? This clip is his winning entry. Winning the competition has given...
Saliem Fakir -
Every-time capitalism is hit by a crisis it is described as being an errant event. The latest scandal which has rocked the US financial sector, where trusted and the likeable figure Bernie Madoff ran a Ponzi scheme for almost two decades, is once again dismissed as the work of a rogue element.
But rarely will the pundits of the new economy, which rely on the use of innovative speculative financial instruments to make inflated profits from thin air, blame its faulty free market philosophy and...
