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Two remarkable global victories deserve attention in Canada

By

Nick Fillmore

| July 3, 2015

Two remarkable developments in the past week that could have a significant impact in many countries are worth a lot more attention in Canada and the United States.

First, a major research document published by five top economists at the International Monetary Fund (IMF) admitted that the strong pro-capitalist policies at the centre of its activities in developing countries for the past 30 years do not work.

One of the IMF's main roles in recent years has been to bail out countries during financial crises. In return for loans, some 60 mostly poor countries have been forced to follow strict rules, such as privatizing government resources, deregulating controls to open markets to foreign investment, and restricting what they can spend in areas such as education and health care.


Now the paper, Causes and Consequences of Income Inequality: A Global Perspective, says there needs to be a shift and that greater income equality in both developing and developed countries should become a priority.

READ MORE: http://rabble.ca/news/2015/07/two-remarkable-global-victories-deserve-attention-canada