Philanthrocapitalism’ - corporate hypocrisy?

More and more wealthy CEOs are pledging to give away parts of their fortunes – often to help fix problems their companies caused. It is easy to think of Facebook boss Mark Zuckerberg as some kind of hero – a once regular kid whose genius made him one of the richest men in the world, and who decided to use that wealth for the benefit of others by setting up a charity foundation. The image he

Modern Slavery

Human trafficking for labour exploitation is on the rise, according to the latest report by the Council of Europe. The victims are often undocumented immigrants, and all vulnerable groups living in precarious economic conditions are at risk. What seems a job opportunity can turn into a living hell: the victims often depend on their traffickers for work and housing. They work in a wide range

Microfinance - no cure

Giving small loans to people for small household purchases or to invest in businesses has been an integral part of aid programs for decades. This is called “microfinance”, and the aim is not only to alleviate poverty but also to empower women. But simply improving a woman’s economic situation does not necessarily result in greater equality. Increasing women’s economic engagement often increases

Abusing Kids

Fleeing violence and poverty in Central America, tens of thousands of children come to the United States each year and are detained by Customs and Border Protection (CBP), a branch of the Department of Homeland Security (DHS).  The report (pdf) from the ACLU and University of Chicago Law School says detained children have faced "physical and psychological abuse, unsanitary and inhumane living

Suffering and not benefiting

The stock market has been on a boom in recent years and many corporations are reporting strong profits. Four in 10 Americans are unable to cover an unexpected expense of $400 or more without resorting to borrowing money or selling some of their possessions, a Federal Reserve annual economic survey has found. At the same time, in 2017 one in five Americans knew someone who was addicted to

Supping with the devil

America's largest corporations continue their unprecedented stock buyback spree in the wake of President Donald Trump's $1.5 trillion tax cut, and new government data published on Tuesday showed that U.S. banks are also smashing records thanks to the GOP tax law, raking in $56 billion in net profits during the first quarter of 2018—an all-time high. America's most profitable corporations are

The pending retiree crisis

In America, 56% of all low-income households face the risk of being unable to maintain their pre-retirement standard of living once they stop working. For middle-income households, the figure is 54%, but for high-income households, it's only 41%. In other words, fewer than half of all middle- and low-income households will be able to maintain their lifestyles in retirement, but nearly two-thirds

Nationalism is no solution

Various little bands of quasi-socialists in a patriotic effort try to persuade the working class that Scottish independence would mark a step forward towards its own liberation, a step towards socialism. Nothing could be further from the truth. With the conditions that prevail today, the independence of Scotland would not mean a step forward towards socialism. it would be a step backward.