• | Not War but Class War graffiti in Turin | MR Online

    Fighting inflation excuse for class warfare

    SYDNEY and KUALA LUMPUR. A class war is being waged in the name of fighting inflation. All too many central bankers are raising interest rates at the expense of working people’s families, supposedly to check price increases.

  • | USA Federal Reserve System | MR Online

    When saviours are the problem

    SYDNEY and KUALA LUMPUR: Central bank policies have often worsened economic crises instead of resolving them. By raising interest rates in response to inflation, they often exacerbate, rather than mitigate business cycles and inflation.

  • | On the trail of capital flight from Africa | MR Online

    Out of Africa: Rich continent, poor people

    KUALA LUMPUR: Capital flight from the global South is immense, with widespread adverse effects. A new book proposes measures to curb, even reverse capital flight from Africa. It also offers pragmatic lessons for many developing countries.

  • | Galle Face Evening Flag Lowering Ceremony | MR Online

    Sri Lankan economic crisis inflicted by self-serving elite

    SYDNEY and KUALA LUMPUR: Once deemed a basic human needs success story, Sri Lanka (SL) is now in its worst economic crisis since independence in 1948. Nonetheless, SL’s ‘moment of truth’ now offers lessons for other developing countries.

  • | Page for individual images Quoteinspectorcom | MR Online

    Financialization at heart of economic malaise

    COVID-19 has exposed major long-term economic vulnerabilities. This malaise–including declining productivity growth–can be traced to the greater influence of finance in the real economy.

  • | Department of Public Health and Primary Care University of Cambridge | MR Online

    Climate inaction, injustice worsened by finance fiasco

    KUALA LUMPUR: Many factors frustrate the international cooperation needed to address the looming global warming catastrophe. As most rich nations have largely abdicated responsibility, developing countries need to think and act innovatively and cooperatively to better advance the South.

  • | Island state nations like the Marshall Islands are often among the most vulnerable to climate change and need financial support from wealthier countries | MR Online

    Climate change: Adapt for the future, not the past

    Funding for developing countries to address global warming is grossly inadequate. Very little finance is for adaptation to climate change, the urgent need of countries most adversely affected. Also, adaptation needs to be forward-looking rather than only addressing accumulated problems.

  • | WWF Global Warming Ad1 | MR Online

    Profiting from the carbon offset distraction

    Carbon offset markets allow the rich to emit as financial intermediaries profit. By fostering the fiction that others can be paid to cut greenhouse gases (GHGs) instead, it undermines efforts to do so.

  • | Climate injustice at Glasgow COPout | MR Online

    Climate injustice at Glasgow COP-out

    Former Irish President Mary Robinson observed, “People will see this as a historically shameful dereliction of duty,… nowhere near enough to avoid climate disaster.”

  • | COVID19 vaccines wealthier nations including the UK must drop their opposition to the proposed TRIPS waiver at the WTO | MR Online

    WTO finished without TRIPS waiver

    The World Trade Organization (WTO) will soon decide on a conditional temporary waiver of Trade-Related Intellectual Property Rights (TRIPS).

  • | coal fired power plant on the Ohio River | MR Online

    Carbon tax over-rated

    Addressing global warming requires cutting carbon emissions by almost half by 2030! For the Intergovernmental Panel on Climate Change, emissions must fall by 45% below 2010 levels by 2030 to limit warming to 1.5°C, instead of the 2.7°C now expected.

  • | Emissions from coalfired power plants contribute to the air pollution in Ulaanbaatar Mongolia | MR Online

    Will Glasgow fix broken climate finance promises?

    SYDNEY and KUALA LUMPUR: Current climate mitigation plans will result in a catastrophic 2.7°C world temperature rise. US$1.6–3.8 trillion is needed annually to avoid global warming exceeding 1.5°C.

  • | Bleak prospects for least developed countries | MR Online

    Bleak prospects for least developed countries

    SYDNEY and KUALA LUMPUR: “The outlook for LDCs is grim”. The latest United Nations (UN) assessment of prospects for the least developed countries (LDCs) notes recent setbacks without finding any silver lining on the horizon.

  • | COVAX rollout COVID19 vaccinations begin in Ghana nurse prepares vaccine | MR Online

    Better late than never, but act now

    The world should now be more aware of likely COVID-19 devastation unless urgently checked. Last week, the World Health Organization (WHO) announced an US$8 billion plan to quickly vaccinate many more people to expedite ending the pandemic.

  • | Briefing and Press Conference Regarding Safe School Reopening During the COVID19 Pandemic Wilmington DE September 2 2020 | MR Online

    Rich countries prolong the pandemic: what Biden must do

    Most rich countries have opposed most developing countries’ request to temporarily suspend World Trade Organization (WTO) intellectual property (IP) rules to more quickly contain the COVID-19 pandemic. Expectations were high as Biden had supported a patent waiver, albeit only for vaccines.

  • | Since the Eisenhower administration taxes on the rich have fallen from above 90 on the top bracket to the 30 range today which does not include a multitude of tax avoidance schemes for the rich | MR Online

    Progressive taxation for our times

    As developing countries struggle to cope with the pandemic, they risk being set back further by restrictive fiscal policies. These were imposed by rich countries who no longer practice them if they ever did. Instead, the global South urgently needs bold policies to ensure adequate relief, recovery and reform.

  • | Daniel SchludiUnsplash | MR Online

    End vaccine apartheid

    Vaccine costs have pushed many developing countries to the end of the COVID-19 vaccination queue, with most low-income ones not even lining up. Worse, less vaccinated poor nations cannot afford fiscal efforts to provide relief or stimulate recovery, let alone achieve Agenda 2030.

  • | Least Developed Countries map as designated by the United Nations Photo Wikipedia | MR Online

    Allow least developed countries to develop

    The pandemic is pushing back the world’s poorest countries with the least means to finance economic recovery and contagion containment efforts. Without international solidarity, economic gaps will grow again as COVID-19 threatens humanity for years to come.

  • | Health care is a human right | MR Online

    Prioritising profits reversed health progress

    Instead of a health system striving to provide universal healthcare, a fragmented, profit-driven market ‘non-system’ has emerged. The 1980s’ neo-liberal counter-revolution against the historic 1978 Alma-Ata Declaration is responsible.

  • | States developing public options may offer the federal government valuable lessons in expanding access to care at a lower cost | MR Online

    Privatised health services worsen pandemic

    Decades of public health cuts have quietly taken a huge human toll, now even more pronounced with the pandemic. Austerity programmes, by the International Monetary Fund (IMF) and World Bank, have forced countries to cut public spending, including health provisioning.