Barack Obama raised the hopes of global justice advocates by committing to significant changes in our international economic policies. As president, however, his efforts to implement alternatives have been slow to get off the ground.
The Obama administration is earning a B on trade policy so far, mostly on the grounds that no news is good news in this area. Some analysts might feel it is more accurate to give the administration an “incomplete.”
It’s bad enough when a person drowns in debt. Shock waves multiply when a corporation teeters on the verge of failure. The economy becomes even more agitated when a country declares bankruptcy, as Iceland did in 2008 and Hungary and Latvia almost did in 2009.
The teacher assembles a collection of chocolate-chip cookies and toothpicks. This is how the elementary school children are supposed to learn about the costs associated with coal mining. Each cookie is a mining property. The students each receive $19 in play money, which they use to buy these properties. They examine the cookies closely to determine which ones to buy. They map their cookies. They buy mining equipment in the form of paperclips and toothpicks. Each minute spent extracting a chocolate chip costs $1. The chips that they do not surreptitiously eat can be sold for $2 apiece. When they are finished, the students must restore their property to its original condition using only their tools, a process that also costs money. Only after this labor can they determine their profits — and the costs of the mining process.
The global economic crisis has devastated workers around the world, none more than migrants whose daily wages are dependent on the whims of global financiers. Witness Dubai. Even before the meltdown of Dubai World, migrants whose labor literally built Dubai from the ground up suffered serious job losses with the onset of the global recession in 2008.
During the past several months, I spent nearly 30 hours in meetings of a private sector committee tasked with advising the Obama administration on a particular set of international economic policies.
A bizarre meeting on the "Future of North America" was scheduled to take place on November 2 and 3. Members of the newly created, self-appointed "Commission on North American Prosperity" would have gathered in Toronto. Amazingly, the meeting was considered a "summit," even though none of the presidents slated to lead it are sitting presidents. There was George H.W. Bush representing the United States, Vicente Fox standing in for Mexico, Jean Chretien for Canada, and Ricardo Lagos from Chile. All of a sudden this "summit" has been cancelled.
Fernando Lopez woke up on a Sunday morning out of a job. For the electrical worker, the feeling was terrifying. "From one day to the next, they left us with no job — nothing," Lopez said, as he marched alongside some 200,000 fellow workers and their supporters...
Over the past 10 years, the Yes Men have emerged as an infamously daring and creative duo of anti-corporate pranksters. In their new movie, The Yes Men Fix the World, Andy Bichlbaum and Mike Bonanno (known in their non-activist lives as Jacques Servin and Igor Vamos) explain their methodology: “What we do is pass ourselves off as representatives of big corporations we don’t like,” they say. “We make fake websites, then wait for people to accidentally invite us to conferences.”
As the self-appointed economic guardians of the world and thousands of protesters converge on Pittsburgh for the third summit of the Group of 20 (G20), expectations are low that a breakthrough will take place in the form of a coordinated action to address the global economic crisis.