Analysis
Water-controlled Wealth of Nations
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- Written by S. Suweis et al.
“……….Population growth is in general constrained by food production, which in turn depends on the access to water resources. At a country level, some populations use more water than they control because of their ability to import food and the virtual water required for its production. Here, we investigate the dependence of demographic growth on available water resources for exporting and importing nations.
By quantifying the carrying capacity of nations on the basis of calculations of the virtual water available through the food trade network, we point to the existence of a global water unbalance.
We suggest that current export rates will not be maintained and consequently we question the long-term sustainability of the food trade system as a whole. Water-rich regions are likely to soon reduce the amount of virtual water they export, thus leaving import-dependent regions without enough water to sustain their populations."
Does the Richness of the Few Benefit us all?
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- Written by Zygmunt Bauman
A hidden property empire grown with Mussolini's millions
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- Written by David Leigh et al.
With money from the dictator for papal recognition of the Italian fascist regime in 1929, the Vatican used tax havens to create a £500m international portfolio
Few passing London tourists would ever guess that the premises of Bulgari, the upmarket jewellers in New Bond Street, had anything to do with the pope. Nor the nearby headquarters of the wealthy investment bank Altium Capital, on the corner of St James’s Square and Pall Mall.
But these office blocks in one of London’s most expensive districts are part of a surprising secret commercial property empire owned by the Vatican.
Read more: A hidden property empire grown with Mussolini's millions
The cost of inequality: how wealth and income extremes hurt us all
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- Written by Oxfam
A new Oxfam report: the world must urgently set goals to tackle extreme inequality and extreme wealth...
Well-being, Happiness and Public Policy
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- Written by Sabine Alkire
This Background Paper for the International Expert Working Group (IEWG) for a New Development Paradigm outlines the concept of well-being, flourishing, and happiness for all, which forms the objective of a new development paradigm.
It seeks to synthesise for busy readers how the Expert Working Group IEWG might explain and defend well-being and happiness, and also what value-added this work has in policy terms. The paper draws upon philosophical traditions to propose how the Gross National Happiness index GNH concept of having nine domains of well-being can be shared in an international context.
Cash and Corruption in God's City
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- Written by Ann Hollingshead
(From Global Financial Integrity)
The day before I left for my trip to Germany last month, I was warned to bring plenty of money in cash. You see, the country has transitioned to chip-and-PIN cards, which use embedded microprocessor chips for financial transactions instead of traditional magnetic stripes. The problem is that this means it’s becoming increasingly difficult for oblivious American travelers (myself included) to use their credit cards. Hence the cash. Although I could have circumvented this problem with a little foreknowledge and a call to my bank, I found this problem to be particularly irritating. After all, in this century, who carries around cash?
It is precisely this pesky problem—carrying around cash—that travelers to the Vatican are now stomaching. And in this case there aren’t any easy answers for the savvy; museums and businesses in the Holy See are declining credit and debit cards following concerns of inadequate money laundering controls. If using cash instead of electronic payments to avoid money laundering seems a bit backward to you, that’s because it is.
The new mercantilist challenge
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- Written by Dani Rodrik
he history of economics is largely a struggle between two opposing schools of thought, “liberalism” and “mercantilism.” Economic liberalism, with its emphasis on private entrepreneurship and free markets, is today’s dominant doctrine. But its intellectual victory has blinded us to the great appeal – and frequent success – of mercantilist practices. In fact, mercantilism remains alive and well, and its continuing conflict with liberalism is likely to be a major force shaping the future of the global economy.
Today, mercantilism is typically dismissed as an archaic and blatantly erroneous set of ideas about economic policy. And, in their heyday, mercantilists certainly did defend some very odd notions, chief among which was the view that national policy ought to be guided by the accumulation of precious metals – gold and silver.
Secret structures, hidden crimes
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- Written by Alex Marriage, Eurodad
The new Eurodad report “Secret structures, hidden crimes” finds that the hidden ownership of companies and other legal structures facilitates tax evasion, corruption and related crimes. It outlines the different ways that individuals abuse companies, trusts and other vehicles in order to evade taxes.
It argues that better information about who owns and controls these companies and other set-ups is key to bringing trillions of dollars of offshore wealth back into the tax net and helping to prevent capital flight in the future.
US: Tax avoidance on the Rise - Twice the amount of Social Security and Medicare
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- Written by Paul Buchheit
Three trillion dollars a year. That's how much the wealthiest Americans avoid through the system of subsidies and schemes and sweet deals that deprive middle-class workers of their earned benefits. That's three times more than the deficit. That's enough for a full-time job for every middle-class household in America. Here are the distressing details:
1. Tax Expenditures: $1.25 trillion
These subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes are estimated to be worth 7.4% of the GDP, or about $1.1 trillion. They largely benefit the richest taxpayers. Business subsidies bring the total to $1.25 trillion.
That alone is almost enough to pay for Social Security ($884 billion) and Medicare ($524 billion).
But there's so much more.
Read more: US: Tax avoidance on the Rise - Twice the amount of Social Security and Medicare
The Welfare State, 1942-2013, obituary
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- Written by Aditya Chakrabortty/ The Guardian
After decades of public illness, Beveridge's most famous offspring has died
(The Guardian, Tuesday 8 January 2013)
For much of its short but celebrated life, the Welfare State was cherished by Britons. Instant public affection greeted its birth and even as it passed away peacefully yesterday morning, government ministers swore they would do all they could to keep it alive.
The Welfare State's huge appeal lay in its combination of simplicity and assurance. A safety net to catch those fallen on hard times, come rain or shine, boom or bust, it would be there for all those who had paid in.
