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TWO SIDES
OF A SAME COIN
source: www.gaff.org.uk/index.php?a=60
www.etcgroup.org
/en/materials/publications
.html?pub_id=136
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Growing disparities between rich and poor, both within and between OECD nations and the South, mirrors trends in corporate concentration:
- more than 1.2 billion people - one in every five on Earth - survive on less than US$1 a day;
- overseas Development Assistance (foreign aid to poor nations) totals approximately US$50,000 million/year worldwide. By contrast, global military expenditures in 2002 were estimated to be at least US$700,000 million;
- OECD countries provide more than 300,000 million in agricultural subsidies each year. Subsidies to the US cotton industry equal more than triple the amount of US government aid to sub-Saharan Africa;
- at the end of 2002, the number of jobless people in the formal sector worldwide reached a record high of 180 million. The ILO’s unemployment statistics do not include the informal sector and the ‘working poor’ who live on or less a US$1 day.
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