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Showing posts with the label loans

The British University is Dying (?)

“Under the old system, there were separate ‘pots’ for research and teaching – some money for research; some money for each student you had to teach. Under the new system , there is no pot for research (at least for the arts and humanities): the money must come out of student fees. This transforms the operations of the university – and much for the worse. While in the old system, there was no particular incentive to increase your student numbers (and, in fact, an incentive for the government to limit them), under the new one, there is an incentive and even necessity to attract as many as possible. So whereas in the past universities could concentrate on teaching and research, now they spend a huge amount of their time and resources on a perpetual scramble for students. This competition has only grown more cut-throat since the cap on student numbers was lifted, which meant that more prestigious universities could hoover up more, leaving others to fight over the shrinking remainder. “Mean...
"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
"The national economy, once protected, is literally controlled today. Loans and donations fund the budget. Fishing for capital, either the heads of state themselves or their governmental delegates pay a visit to the capital cities of their former metropoles each quarter. The former colonial power makes countless demands and secures concessions and guarantees, as it takes less and less care to mask its hold on national power. The people miserably stagnates in unbearable destitution and slowly becomes increasingly aware of its leaders’ heinous treason." — Frantz Fanon, The Wretched of the Earth . How much has changed since Fanon wrote those words in 1963?