In a recent editorial comment, The Economist issued a solemn call to all believers in global capitalism not to despair, not to panick, and to do nothing that could endanger the capitalist system (October 18-24, 2008). The magazine invoked the words and spirit of its founder, the Scottish businessman, James Wilson, who, about 165 years ago, gave the paper the philosophy of "economic liberty".
This study analyses existing legal means of holding European transnational companies liable for extraterritorial human rights violations. The authors examine four representative legal cases against European companies in Latin America that revolve around problems typical in the region.
Today, just as faith in deregulated markets has evaporated in the nightmare on Wall Street, so too is the long reign of market fundamentalism (or neoliberalism) ending in the development arena. And, a debate over the best route to development has returned.
The Permanent People's Tribunal (PPT) in 2008 examined 21 cases of abuses by transnational companies from 12 sectors operating in Latin American countries and looked at the impact of EU free trade agreements for perpetuating and expanding these corporate crimes.
Dark Victory reveals the roots of rising poverty and inequality in the South in a sweeping strategy of global economic rollback unleashed by the US to shore up the North's domination of the international economy and reassert corporate control.
Europe’s aggressive external market
access agenda, combined with its push internally for market reforms in the
interest of competitiveness, poses new threats to workers in the North and South and will need a transnational trade union response.
As the world is still assessing one of the most violent shocks in international financial markets ever, and measures to avoid future financial crises are still not in place, developing countries should be cautious of dangers associated with further liberalisation of their financial sectors.
As a result of the free trade agreements with the European Union, called economic partnership agreements, regional integration in Southern Africa is in tatters. The question arises: what kind of integration would engender broad-based development?
The global rise in food prices is not only a consequence of using food crops to produce biofuels, but of the "free trade" policies promoted by international financial institutions. Now peasant organisations are leading the opposition to a capitalist industrial agriculture.