[p2p-research] Capitalism's Self-Inflicted Apocalypse by Michael Parenti

Paul D. Fernhout pdfernhout at kurtz-fernhout.com
Sun Aug 16 07:01:47 CEST 2009

Michel Bauwens wrote:
> does anyone have any data on this:
> the number of billionaires is increasing faster than ever while the number
> of people living in poverty is growing at a faster rate than the world's
> population
> On Sun, Aug 16, 2009 at 2:38 AM, Paul D. Fernhout <
> pdfernhout at kurtz-fernhout.com> wrote:
>> Someone just sent me this link; some people here might like it.
>> "Capitalism's Self-Inflicted Apocalypse" by Michael Parenti
>> http://www.thirdworldtraveler.com/Parenti/Capitalism%27s_Apocalypse.html

"Global Financial Crisis Pushing Millions into Poverty in 2009"
"As news of the global economic slump becomes more dire by the day, the 
latest World Bank statistics suggest that 53 million more people could fall 
into $2 a day poverty in 2009 as a direct result of the financial crisis - 
or up to 100 million more people according to the UN Millennium Campaign. "

Or also on that page: "More than 140 million people could be plunged into 
poverty and 23 million lose their jobs in Asia this year as the global 
financial crisis batters the region, according to a study released 
Wednesday. ... ILO regional director Sachiko Yamamoto noted the situation 
was quickly evolving "into an employment and social crisis." "

Word population increase in 2009:
"The current annual population increase of about 80 million will remain 
constant until 2015."

So, sounds about right for this year, sadly, as far as increasing poverty. :-(

But this suggests the billionaires number slipped some too:
"The richest people in the world have gotten poorer, just like the rest of 
us. This year the world's billionaires have an average net worth of $3 
billion, down 23% in 12 months. The world now has 793 billionaires, down 
from 1,125 a year ago. "

It was certainly true up to last year or so that the number was increasing. 
So, one might take that to read, there was a vast number of new billionaires 
minted in the years leading up to an economic disaster. But, still, that's 
not what they said. However, as the article was published in January, 2009, 
and the Forbes list came out in march, it may have been more-or-less true 
when they wrote it based on available facts.

Anyway, 300 or so people going from billionaire status to multi-millionaire 
status does not seem quite as big an issue as one hundred million or more 
people plunging back into poverty.

--Paul Fernhout

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