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Showing posts from September, 2009

Robbing The Poor To Feed The Rich?

Now that cuts in spending seem to be on the agenda of all the main political parties, the big questions still to be answered are: how much? And where will the axe fall? According to a recent poll by Ipsos MORI, published by the BBC ( http://bit.ly/d168R ), the most popular candidate with most people is overseas aid. That’s not really surprising. It’s understandable that during severe financial crisis most people want our government to look after our own affairs first. Charity, as the saying goes, begins at home. But is it really right for the poorest nations of the world to be penalised for a crisis that was brought on by the rich? The developing world already spends $1.3 on debt repayment for every $1 it receives in grants (Source: World Centric, http://bit.ly/b5C7f ). Every day at least $100 million flows from the poor of the world into the pockets of the rich. Existing problems like drought and famine will not go away just because there is a worldwide recession, and the poor are mo