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Licensed larceny: Infrastructure, financial extraction and the global South (Manchester Capitalism) - Tapa dura

Libro 3 de 16: Manchester Capitalism

Hildyard, Nicholas

 
9781784994266: Licensed larceny: Infrastructure, financial extraction and the global South (Manchester Capitalism)
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ISBN 10: 178499426X ISBN 13: 9781784994266
Editorial: Manchester University Press, 2016

Sinopsis

Inequality is not just a problem of poverty and the poor; it is as much a problem of wealth and the wealthy. The provision of public services is one area which is increasingly being reconfigured to extract wealth upward to the 1%, notably through so-called Public Private Partnerships (PPPs). The push for PPPs is not about building infrastructure for the benefit of society but about constructing new subsidies that benefit the already wealthy. In other words, it is less about financing development than developing finance.

Understanding and exposing these processes is essential if inequality is to be challenged. But equally important is the need for critical reflection on how the wealthy are getting away with it. What does the wealth gap suggest about the need for new forms of organising by those who would resist elite power?

"Sinopsis" puede pertenecer a otra edición de este libro.

Acerca del autor

Nicholas Hildyard works with the research and solidarity group, The Corner House, UK -- .

De la contraportada

In country after country, the already vast gap between the rich and poor has widened dramatically over the past thirty years. The incomes of the rich are sky-rocketing, whilst those of poorer people stagnate or plummet; and the lion's share of global wealth is increasingly concentrated in fewer and fewer hands.

Inequality is not just a problem of poverty and the poor; it is as much a problem of wealth and the rich. The growing wealth gap is best viewed as a proxy for how effectively elites have constructed institutions that extract value from the rest of society. Understanding the mechanisms through which wealth is extracted upwards to the one per cent is critical if they are to be challenged. One area that is currently being reconfigured to enhance such extraction is infrastructure development.

For the rich, infrastructure is not primarily about bricks and mortar but about capturing subsidies and government-backed contracts that guarantee (yes guarantee) high rates of profits. Public Private Partnerships (PPP) are a lynch pin for this extraction. Now being pushed worldwide by multilateral development banks, such as the World Bank, they have become a cornerstone for constructing multiple means of financial looting as infrastructure is transformed into an asset class.

The trajectory is not only towards increased inequality: it is also profoundly undemocratic, elitist and unstable. Undemocratic because a handful of fund managers now increasingly determine what gets financed and what does not. Elitist because the facilities that would most benefit the poor do not get built, and unstable because infrastructure-as-an-asset class is a bubble that is set to burst.

How have the rich got away with it? Is the growing wealth gap the result of a failure of activists to shout loudly enough against its iniquities? Or does it reflect a more fundamental problem, rooted as much in the ways that progressive activists are themselves organising as in the well-documented power of today's elites?

De la solapa interior

In country after country, the already vast gap between the rich and poor has widened dramatically over the past thirty years. The incomes of the rich are sky-rocketing, whilst those of poorer people stagnate or plummet; and the lion's share of global wealth is increasingly concentrated in fewer and fewer hands. Inequality is not just a problem of poverty and the poor; it is as much a problem of wealth and the rich. The growing wealth gap is best viewed as a proxy for how effectively elites have constructed institutions that extract value from the rest of society. Understanding the mechanisms through which wealth is extracted upwards to the one per cent is critical if they are to be challenged. One area that is currently being reconfigured to enhance such extraction is infrastructure development.For the rich, infrastructure is not primarily about bricks and mortar but about capturing subsidies and government-backed contracts that guarantee (yes guarantee) high rates of profits. Public Private Partnerships (PPP) are a lynch pin for this extraction. Now being pushed worldwide by multilateral development banks, such as the World Bank, they have become a cornerstone for constructing multiple means of financial looting as infrastructure is transformed into an asset class. The trajectory is not only towards increased inequality: it is also profoundly undemocratic, elitist and unstable. Undemocratic because a handful of fund managers now increasingly determine what gets financed and what does not. Elitist because the facilities that would most benefit the poor do not get built, and unstable because infrastructure-as-an-asset class is a bubble that is set to burst.How have the rich got away with it? Is the growing wealth gap the result of a failure of activists to shout loudly enough against its iniquities? Or does it reflect a more fundamental problem, rooted as much in the ways that progressive activists are themselves organising as in the well-documented power of today's elites?

"Sobre este título" puede pertenecer a otra edición de este libro.

Editorial
Manchester University Press
Año de publicación
2016
Idioma
Inglés
ISBN 10 
178499426X
ISBN 13 
9781784994266
Encuadernación
Tapa dura
Número de páginas
144
Contacto del fabricante
no disponible
Persona responsable
gpsr@libri.de
gpsr@libri.de

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