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TorgoX (1933)


"Il est beau comme la retractilité des serres des oiseaux rapaces [...] et surtout, comme la rencontre fortuite sur une table de dissection d'une machine à coudre et d'un parapluie !" -- Lautréamont

Journal of TorgoX (1933)

Wednesday June 19, 2002
06:34 PM

Econo-terror! New, in economy size!

[ #5792 ]
Dear Log,

« An in-depth study into the world's 49 least developed countries rejects claims that globalisation is good for the poor, arguing that the international trade and economic system is part of the problem, not the solution.

[...]"International policy needs to give more attention to breaking the link between primary commodity dependence, pervasive extreme poverty and unsustainable external debt," the UN says. »

--"100m more must survive on $1 a day: IMF and World Bank told [by the UN] to stop peddling discredited policies "

The more I hear about economics (at least in English-speaking countries), the more I think that it's 5% reality, 40% overblown math (phe0r my turgid integral sign!), and 55% a nimbus of crypto-religiosity. Talk of "invisible hand" and "class consciousness" and "free markets" and "investor confidence" all sounds barely a step removed from "providentia divina" and "gloria Dei" and "faith among the righteous" and whatnot.

And while I invite people to believe in whatever hoodoo they want, I'm not so happy when they try to convert others via blackmail.

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  • I particularly like how we tell developing nations (most notably those in Africa) how important and necessary free trade is. Then we flood their markets with subsidized agricultural products and protect our steel industry (and timber) with tariffs.

    Admittedly not a 100% honest portrayal of the picture what close enough to be funny. :-)