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COVID_Big_Tech

The rise of Big Tech cements the fall of the US economy

Josephine Valeske and Bram Nicholas
December 1, 2020
While the US economy is going through its worst crisis in the last eight decades, with small businesses shutting down en masse and millions of Americans losing their jobs, one wouldn’t know anything is wrong solely from looking at the largest US companies. The crisis, triggered―but not caused―by the COVID-19 pandemic measures, has enabled some of the world’s largest corporations to amass record profits. It allows them to capture ever-larger shares of a market that is increasingly monopolised. How could that happen and what will it lead to?
December 1, 2020
Zambia_Kwacha

Haemorrhaging Zambia: Underlying sources of the current sovereign debt crisis

Andrew M. Fischer
November 25, 2020
Following a stand-off with commercial creditors and protracted but unresolved negotiations with the IMF, Zambia defaulted on its external sovereign debt on 13 November this year. While most commentary has focused exclusively on the government’s sovereign borrowing, our own research has detected massive outflows of private wealth over the past 15 years, hidden away in an obscure part of the country’s financial account. The outflows are most likely related to the large mining companies that dominate the country’s international trade. With many other African countries also facing debt distress, this huge siphoning of wealth from Zambia provides crucial lessons that need to be central in discussions about debt justice in the current crisis. We explain here what we’ve found.
November 25, 2020

Explore Bliss posts

Welcome to Bliss, the ISS blog on Global Development and Social Justice.

Region
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Eastern Asia
Europe
Global
Latin America and the Caribbean
Middle East and North Africa
Northern America
South and South-eastern Asia
Sub-Saharan Africa
Western and Central Asia
Country
Show All
Bangladesh
Brazil
Bulgaria
China
Colombia
Democratic Republic of the Congo
Ecuador
Ethiopia
France
Germany
Ghana
Haiti
India
Indonesia
Ireland
Israel
Italy
Jordan
Kenya
Laos
Macedonia
Malawi
Mexico
Morocco
Mozambique
Myanmar
Nepal
Netherlands
Nicaragua
Nigeria
Pakistan
Palestine
Peru
Philippines
Russia
Rwanda
Somalia
South Africa
South Korea
South Sudan
Sri Lanka
Sudan
Suriname
Syria
Tanzania
Thailand
Turkey
Uganda
Ukraine
United Kingdom
United States
Venezuela
Zambia
Zimbabwe
Themes
Conflict & Peace
Development Economics
Development Philosophy & Practice
Gender, Sexuality & Diversity
Governance, Politics & Justice
Humanitarian Aid & Development Assistance
Livelihoods, Human & Labour Rights
Migration
Natural Resources, Environment & Climate
Resistance, Activism & Decolonisation
Social Protection & Social Policy
Series
COVID-19
COVID-19 and Conflict
Creative Development
Deglobalisation
Development Dialogue 2018
EADI/ISS
Epistemic Diversity
IHSA Conference 2018
Women's Month 2019
COVID_Big_Tech

The rise of Big Tech cements the fall of the US economy

Josephine Valeske and Bram Nicholas
December 1, 2020
While the US economy is going through its worst crisis in the last eight decades, with small businesses shutting down en masse and millions of Americans losing their jobs, one wouldn’t know anything is wrong solely from looking at the largest US companies. The crisis, triggered―but not caused―by the COVID-19 pandemic measures, has enabled some of the world’s largest corporations to amass record profits. It allows them to capture ever-larger shares of a market that is increasingly monopolised. How could that happen and what will it lead to?
December 1, 2020
Zambia_Kwacha

Haemorrhaging Zambia: Underlying sources of the current sovereign debt crisis

Andrew M. Fischer
November 25, 2020
Following a stand-off with commercial creditors and protracted but unresolved negotiations with the IMF, Zambia defaulted on its external sovereign debt on 13 November this year. While most commentary has focused exclusively on the government’s sovereign borrowing, our own research has detected massive outflows of private wealth over the past 15 years, hidden away in an obscure part of the country’s financial account. The outflows are most likely related to the large mining companies that dominate the country’s international trade. With many other African countries also facing debt distress, this huge siphoning of wealth from Zambia provides crucial lessons that need to be central in discussions about debt justice in the current crisis. We explain here what we’ve found.
November 25, 2020