Posted 2 years ago on Dec. 24, 2012, 3:18 a.m. EST by ryan83320
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Has Wall Street Capitalism gained a heart in its concerns for job creation and its potential for social cohesion in developing countries in particular?
I may have scanned through the papers too quickly but this World Development Report for 2013 carries the assumption that commercial priorities are always the winners as developing countries scramble competitively for scarce capital and technological resources.
People are the winners from this style of development when they are compliant units of human capital.
Meanwhile the 1% who are enthusiasts for the Wall Street System largely ignore the plight of developing countries to dabble in Casino Capitalism within the Shadow Banking System that dwarfs the real global economy with capital stock amounting to $US 158 trillion by 2015.
Check out this new report from the World Bank:
World Bank. 2012. ‘World Development Report 2013’. Accessed 24 December 2012. Available at http://siteresources.worldbank.org/EXTNWDR2013/Resources/8258024-1320950747192/8260293-1322665883147/WDR_2013_Report.pdf.
And another excellent source for data on the Global Economy:
World Economic Forum. 2010. ‘More Credit With Fewer Crises: Responsibly Meeting the World’s Growing Demand for Credit’. Accessed 24 December 2012. Available at http://www3.weforum.org/docs/WEF_NR_More_credit_fewer_crises_2011.pdf.