Category Archives: Economy

How the Definition of Development Aid is Being Eroded

InterPress Service

By Lyndal Rowlands

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UNITED NATIONS, Apr 21 2016 (IPS) – The traditional definition of aid is being eroded at the same time that governments have committed to achieving the UN’s ambitious Sustainable Development Goals (SDGs), Jeffrey Sachs special adviser to the UN Secretary-General on development told IPS Thursday.

“A lot of governments have a kind of magical thinking which is, we’re all for the Sustainable Development Goals but don’t come to us if you want to achieve them, go borrow from the private markets,” said Sachs.

Aldo Caliari who represents civil society in UN Financing for Development (FfD) negotiations told journalists here Monday that there has been a “significant shift in the language” in these negotiations towards “a larger presence of the private sector”. Continue reading How the Definition of Development Aid is Being Eroded

Pope tells corrupt benefactors that church doesn’t need ‘dirty money’

Catholic News Service

By Carol Glatz

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VATICAN CITY (CNS) — Speaking out against exploitation and unfair wages for workers, Pope Francis told benefactors to forget about donating money to the church if their earnings came from mistreating others.

“Please, take your check back and burn it,” he said to applause.

“The people of God — that is, the church — don’t need dirty money. They need hearts that are open to God’s mercy,” the pope said March 2 during his general audience in St. Peter’s Square.
God wants people to turn away from evil and do what is just, not cover up their sins with gestures of sacrifice, he said. Continue reading Pope tells corrupt benefactors that church doesn’t need ‘dirty money’

Socially responsible investors press companies to do the right thing

Catholic News Service
By Dennis Sadowski Catholic News Service

WASHINGTON LETTER SHAREHOLDERS

WASHINGTON (CNS) — If it’s spring, it must be corporate annual general meeting season.

For investors concerned about corporate accountability and transparency, it’s one of the busiest times of the year.

The annual general meetings give shareholders the chance to publicly engage corporate leadership on hot-button issues such as human rights, climate change, sustainability, lobbying expenditures and human trafficking. Continue reading Socially responsible investors press companies to do the right thing

Who is writing the TPP?

The Boston Globe

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Congress is in an intense debate over trade bills that will shape the course of the US economy for decades. Much of this debate has been characterized as a fight over whether international trade itself creates or destroys American jobs. There is, however, another major concern — that modern “trade” agreements are often less about trade and more about giant multinational corporations finding new ways to rig the economic system to benefit themselves. Hillary Clinton has said that the “United States should be advocating a level and fair playing field, not special favors” for big business, in our trade deals. We agree with this blunt assessment – and believe every member of Congress should consider this carefully before voting to help advance these agreements. Continue reading Who is writing the TPP?

The Lesson from Davos: No Connection to Reality

InterPress Service

The rich and powerful had all the necessary data for focusing on existential issues for the planet and its inhabitants. Yet they failed to do so. This is a powerful example of the disconnection between the concern of citizens and their elite. The political and financial system is more and more self reverent: but is also fast losing legitimacy in the eyes of many people. Alternative candidates like Donald Trump or Matteo Salvini in Italy, or governments like those of Hungary and Poland, would have never been possible without a massive discontent. What is increasingly at stage is democracy itself? Are we entering in a Weimar stage of the world?
By Roberto Savio

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ROME, Jan 27 2016 (IPS) – The rich and the powerful, who meet every year at the World Economic Forum (WEF), were in a gloomy mood this time. Not only because the day they met close to eight trillion dollars has been wiped off global equity markets by a “correction”. But because no leader could be in a buoyant mood. Continue reading The Lesson from Davos: No Connection to Reality

WCC chief presents ‘Ten Commandments’ of food at Davos

Ecclesia

A 21 January World Economic Forum session on how food choices can become a catalyst for positive change became an opportunity for World Council of Churches General Secretary the Rev Dr Olav Fykse Tveit to present “Ten Commandments” of food to the gathered business and political leaders.

“If we view food through the lens of justice, every plate of food reminds us of certain challenges and opportunities. It is important that we acknowledge the efforts, investments and very lives of living plants and creatures sacrificed to provide food on our tables,” reflected Tveit after the event.

Tveit’s ten commandments of food are:
1. You shall give thanks for the food you eat.
2. You shall provide food for those who have no food.
3. You shall eat mindfully and in moderation. Continue reading WCC chief presents ‘Ten Commandments’ of food at Davos

‘Crafted By and For Big Business’: TTIP Under Fire Across Europe

Common Dreams

‘TTIP is a bonanza for big business, but a nightmare for everyone else,’ says War on Want

Deirdre Fulton, staff writer

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Since TTIP negotiations began in 2013, Europe has seen several mass mobilizations against the so-called “free trade” deal. (Photo: campact/flickr/cc)

A new UK coalition is sounding the alarm over how the Transatlantic Trade and Investment Partnership (TTIP), currently under negotiation between the U.S. and EU, would force European small businesses into unfair competition with U.S. firms with lower standards and lower costs.

“Together with thousands of our counterparts in other European countries, we are concerned that many European businesses risk being wiped out by unfair competition from U.S. corporations if TTIP is allowed to go through,” reads the statement from Business Against TTIP, launched over the weekend. Continue reading ‘Crafted By and For Big Business’: TTIP Under Fire Across Europe