Science, Culture and Integral Yoga

The Bangladeshi banker Muhammad Yunus, who invented the practice of making small, unsecured loans to the poor, warned today that the globalized economy was becoming a dangerous “free-for-all highway.
“Its lanes will be taken over by the giant trucks from powerful economies,” Dr. Yunus said during a lavish ceremony at which he was awarded the 2006 Nobel Peace Prize. “Bangladeshi rickshaws will be thrown off the highway.”
While international companies motivated by profit may be crucial in addressing global poverty, he said, nations must also cultivate grassroots enterprises and the human impulse to do good. ... more »

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Tuesday, December 5

UN Study Shows Richest Two Percent Own Half World Wealth

by ronjon on December 5, 2006 06:31PM (PST)

The richest 2% of adults in the world own more than half of global household wealth according to a path-breaking study released today by the Helsinki-based World Institute for Development Economics Research of the United Nations University (UNU-WIDER).
The most comprehensive study of personal wealth ever undertaken also reports that the richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total. In contrast, the bottom half of the world adult population owned barely 1% of global wealth.
The research finds that assets of $2,200 per adult placed a household in the top half of the world wealth distribution in the year 2000. To be among the richest 10% of adults in the world required $61,000 in assets, and more than $500,000 was needed to belong to the richest 1%, a group which — with 37 million members worldwide — is far from an exclusive club.
The UNU-WIDER study is the first of its kind to cover all countries in the world and all major components of household wealth, including financial assets and debts, land, buildings and other tangible property. ... more »

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"Two myths that keep the world poor," by Vandana Shiva

by ronjon on December 5, 2006 09:53AM (PST)

...Jeffrey Sachs...is not a simply a do-gooder but one of the world’s leading economists, head of the Earth Institute and in charge of a UN panel set up to promote rapid development. So when he launched his book The End of Poverty, people everywhere took notice. Time magazine even made it into a cover story.
But, there is a problem with Sachs’ how-to-end poverty prescriptions. He simply doesn’t understand where poverty comes from. He seems to view it as the original sin. “A few generations ago, almost everybody was poor,” he writes, then adding: “The Industrial Revolution led to new riches, but much of the world was left far behind.”
This is a totally false history of poverty. The poor are not those who have been “left behind”; they are the ones who have been robbed. The wealth accumulated by Europe and North America are largely based on riches taken from Asia, Africa and Latin America. Without the destruction of India’s rich textile industry, without the takeover of the spice trade, without the genocide of the native American tribes, without African slavery, the Industrial Revolution would not have resulted in new riches for Europe or North America. It was this violent takeover of Third World resources and markets that created wealth in the North and poverty in the South. ... more »

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