Magazine article New Internationalist

The Poverty of Capitalism

Magazine article New Internationalist

The Poverty of Capitalism

Article excerpt

The Poverty of Capitalism Economic meltdown and the struggle for what comes next by John Hilary (Pluto Press, ISBN 9780745333304)

As executive director of the NGO War on Want, John Hilary is ideally placed to examine the wider perspective of the global economic meltdown and what its fallout means for the lives of ordinary people. In eight closely argued chapters, he takes us through the various sectors of international capital - food, clothing, extractives and so on - and shows how, in case after case, the neoliberal élite has used the crisis it created to entrench its own power and wealth while undermining sovereign states, labour rights and democracy.

Hilary is particularly scathing about what he calls the Corporate Social Responsibility Delusion. He debunks the notion that gatherings such as the Responsible Business Summit address in any meaningful way the massive disconnect between the actions of transnational corporations and the needs and aspirations of ordinary citizens. …

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