Nèdeem Elmahjoub's blog

The Science of (Not) Ending Global Poverty

Yugoslavia, Argentina, Egypt, Tunisia, Greece ... Venezuela How to depen a crisis and accelerate conflict or how to make a killing The example of Yugoslavia Basil Davidson's review of Susan Woodward's The Balkan Tragedy

"The use a loan is put to is not fundamnetal for characterizing the debt as odious. Financial support for a criminal regime, even if it happens to build a school or a hospital, amounts to consolidating the said regime. The nature of the regime aside, the use of funds should suffice to qualify debts as odious whenever these funds are used against the populations's major interests or when they directly enrich the regime's inner circle. Thus, debts incurred within the framework of structrural adjustments fall into the category of odious debts, since the destructive character of the SAP [Structural Adjustment Program] has been clearly shown, including by UN agencies." Toussaint and Millet, 2010, pp. 249-50

How fundamentalism works "As economics is not an exact science, the number of counter-examples is irrelevant. If I put forward a hypothesis in physics which is proved wrong by an experiment, I must question the theory. And the theory progresses through such invalidation. In economics, you can undermine the existence of millions of people, but none of that human evidence will affect the ideology of structural adjustment ." — Susan George, vice president of ATTAC France, December 6, 2000 See also "How poor countries develop rich countries" "A tonne of cocoa is roughly US $1,300, while one 4x4 vehicle is now about US $120,000. So you need about 92 tonnes of cocoa to exchange for one 4x4. But to get one tonne, you will need not less than 20 acres of land. The average cocoa farmer in Ghana has only around 2-3 acres, meaning it would take him or her well over 500 years to produce enough cocoa to buy a 4x4.” John Opoku, human rights lawyer and activist, Gha...