Now, Newport gives us a name for this quiet movement and makes a case for its urgency in our tech-saturated world. Or, alternatively, the British Virgin Islands subsidiary makes a huge loan to the mother company, at exorbitant interest, which appears as a tax deduction in the taxing country, but which is interest income in the tax-free country. All it takes is for the international organizations to bless this arrangement for the looting to continue. Why should we rely on scraps from the winners? This makes rulers unaccountable to their citizens - they don't need their consent to keep the army paid and the government running. The influx of foreign workers for mineral extraction, and their expense accounts, drives up prices to astronomical levels, particularly for electricity, water, and essential imported goods. This meticulously researched analysis of the repercussions of European colonialism in Africa remains an indispensable study for grasping global inequality today.
The result is a blistering investigation that throws a completely fresh light on the workings of the global economy and will make you think twice about what goes into the mobile phone in your pocket and the tank of your car. There is little chance for the ordinary people when their governments and ruling cliques are hell bent on enriching themselves. Finance and Cyanide -- 8. Even before I read the book, I was aware of this problem, but Burgis explains how and to which extent the looting machine keeps Africa poor, and the facts are pretty shocking. After all, the Africans have next to nothing to show for decades of western imperial domination and postcolonial commercial exploitation! Is smuggling 'push' or 'pull'? It also makes you want to take action — if only there was an obvious way how — purchase from some oil companies over others? This becomes apparent in one of the most fascinating chapters of the book, the one exposing the illegal imports into Nigeria of fake Nigerian textiles from China, which has crowded out the Nigerian textile industry.
Yet Burgis doesn't lay 100% of the blame on China and the West. Unfortunately, most of the stories he tells were not news to me and after a while they end up being repetitive. The outburst put the world on the brink of nuclear annihilation. The role of foreign aid receives little attention. She gave the post the title 'Why I'm No Longer Talking to White People About Race'. But, like its victims, the beneficiaries of this looting machine have names. But far from being a salvation, this buried treasure has been a curse.
His insights are awesome and groundbreaking. But while this book contains no shortage of outrageous corruption and desperate poverty, Tom Burgis distinguishes himself by actually providing a reasonable idea for how to begin solving this vital problem: But what if companies were subject to a duty of care to prevent corruption? But in the shadows a network of traders, bankers, and corporate raiders has sprung up to grease the palms of venal local political elites. Burgis writes in overwhelming detail, and this will be valuable primary material for historians. What if the statistics normally associated with stock symbols included a rating of a corporations social effectiveness, extent of human exploitation, sufficiency of wages to the most basic of employees, extent of environmental impacts, and on and on? So in late 1969, when handsome Chase Andrews is found dead, the locals immediately suspect Kya Clark, the so-called Marsh Girl. In the last 20 years, meditation and mindfulness have gone from being kind of cool to becoming an omnipresent Band-Aid for fixing everything from your weight to your relationship to your achievement level.
But in the shadows a network of traders, bankers and corporate raiders has sprung up to grease the palms of venal local political elites. Perhaps even flipping the contract for a profit, all the while keeping the resources of the country tied up. She knows that many women have been taught to define themselves in light of other people - whether as wife, mother, daughter, or employee. Augustin Katumba Mwanke was a young banker in South Africa when persuaded to return home to help rebuild the Democratic Republic of Congo by the new government of Laurent Kabila. This is exacerbated by pricey spending from those connected to the corrupt government.
I was shaking my head throughout the book. I have already listened to the book twice and am about to listen to it again. This, despite the obvious evidence on the ground that a huge proportion of this aid goes straight into the pockets of the ruling elites. The great value lies in its fresh detail, storytelling and the characters Burgis introduces. My one lament is having listened to this one rather than read it.
Informative, enriching and so relevant. Imagine a criminal offense that made a company liable if it proceeded with a transaction without having identified the ultimate beneficiaries of its target or prospective partner and if that transaction were subsequently shown to have enriched officials. A shocking investigative journey into the way the resource trade wreaks havoc on Africa, The Looting Machine explores the dark underbelly of the global economy. This ideal may eventually be programmed into an artificial intelligence, which will seek the same reverence bequeathed to the stone tablets that bore the Commandments, only in infinitely greater detail. The social contract is replaced with a compact of violence. With Calypso, Sedaris sets his formidable powers of observation - and dark humor - toward middle age and mortality.
No one knows this better than author, naturalist, and adventurer Sy Montgomery. What if we conquered to bring order, economic prosperity, peace, and humanity? The foreign partners remain with their collaborators. By learning from the best, of course. Intellectual property and labor require compensation. In a normal capitalistic environment, indigenous entrepreneurs would arise from the populace, and the government would be dependent upon taxation of their prosperity.