Researchers with the Swiss bank Credit Suisse have just published their latest annual global wealth report, Global Wealth Report 2015. The United States, the report informs us, currently has more than twice as many millionaires as the next four richest nations — the UK, Japan, France, and Germany — combined. It also notes that the trend in growing inequality and the accumulation of wealth by a tiny elite continues unabated.
There is no mention in the report of exploitation, imperialism or war. But it does contain a fairly stark depiction of socio-economic insanity.
“While the bottom half of adults collectively own less than 1% of total wealth, the richest decile holds 87.7% of assets, and the top percentile alone accounts for half of total household wealth.”
The Report makes some effort to explain this state of affairs. For example, it notes with interest that
“North America and Europe also contribute many members to the bottom wealth decile” but it doesn’t put this down to the increasing exploitation of workers in core imperialist states as wealth is siphoned . into the private and largely hidden coffers of a tiny elite.
Instead, for the economists of Credit Suisse the growing number of people in the west living at third-world levels of poverty “reflects the ease with which individuals – especially younger individuals – can acquire debt in these regions”.
So that explains it.
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The following is a submission by The Workers Party to: “A Sense of Belonging: Delivering Social Change through a Racial Equality Strategy for Northern Ireland 2014-2024″.
The Workers Party is an anti-sectarian, anti-racist, secular socialist party. We are anti-racist in the sense that we accept the scientific consensus that ‘race’ as an objective descriptor of human diversity does not exist. More importantly, we are also anti-racist in the sense that we oppose violence and discrimination against people perceived to be ‘different’ for whatever reasons. Races do not objectively exist but hate-crimes and other abuses against ethnic minorities are very real and the Stormont government and other bodies in our society must work to end them.
Added to well established ethnic minority communities in Northern Ireland ( the Chinese, Indian, Jewish and Traveller communities), there has recently been an increasingly visible rise in migrant workers from very diverse backgrounds. It is fair to say that large numbers of people in NI embrace this rise in immigration as a positive development: the 2012 Northern Ireland Life and Times survey found that 43 per cent of respondents believed immigration to be ‘good’ or ‘very good’ for the economy, while half viewed Northern Ireland’s new diversity as having a ‘good’ or ‘very good’ cultural impact. The figures suggest that immigrants have indeed delivered for the local economy.According to recent research from Oxford Economics, far from constituting ‘a drain on the public purse’, between 2004-2008 migrant workers contributed over £1.2 trillion Gross Valued Added to the NI economy. However, this rise in the numbers of migrant workers has also been accompanied by a significant increase in racially motivated attacks and intimidation of ethnic minority people. PSNI figures for 2013/14 show that there were 982 racist incidents in NI, an increase of 232 (30.9%) over the previous year. Moreover, according to 2014 Peace Monitoring Report from the Community Relations Council, many more crimes go unreported, a failure which is exacerbated by the presence of paramilitaries in some of the affected areas.
It is our view that since the signing of the Good Friday Agreement the Stormont Government has been remiss in its duty to protect people from hate crimes. This is a part of the overall unwillingness of the chief parties in Stormont Coalition to to tackle sectarianism at its roots in terms of education, housing, ‘peace-walls’ and flags and emblems. The continued existence of segregated communities in an environment of low-paid work and chronic unemployment and of poverty conditions sow the seeds for much of the racist scapegoating and violence that we have seen in working class areas. As journalist Peter Geoghegan notes:
The public administration of ‘Race Relations’ in Northern Ireland is undermined by a fundamental tension between a discourse of Good Relations and normalisation stressing equality and social diversity and a set of structures and practices which privilege sectarian identities. Although the Agreement includes a commitment to diversity beyond the ‘two traditions’ the text itself is a product of sectarian division and, in many important respects, continues to reproduce this bifurcation.
In relation to sectarian ‘bifurcation’ at government level, the Northern Ireland Council for Ethnic Minorities (NICEM) notes that, “the current Good Relations Policy: Together Building a United Community (TBUC) perpetuates the ‘two communities’ approach and omits consideration of race relations in any action plan.”
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In 2003 the Bare Necessities report by independent think-tank Democratic Dialogue revealed that nearly 30% of Northern Ireland’s households were poor. According to the report, in 2002-03 half a million people in Northern Ireland were…
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The news that between 450 and 600 jobs are to go in Derry at call centres operated by US-owned outsourcing firm Stream has come as another blow to the economy of Northern Ireland. According to…
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