And The Myth Of Free-Market Efficiency

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“The most free, progressive and satisfactory method ever devised for the equitable distribution of property is to permit the people to care for themselves by conducting their own business. They have more wisdom than any government.”

President Calvin Coolidge wrote these words in his autobiography in 1931, two years after the 1929 Wall Street crash.

Coolidge, a conservative, believed that government should not regulate business. He was a notable proponent of laissez-faire economics and skeptical about government interference in business and finance. …

SDGs And The Growing Global Infrastructure Gap

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In 2015 the member states of the United Nations collectively adopted the 2030 Agenda for Sustainable Development outlining 17 Millennium Development Goals. Commonly referred to as Sustainable Development Goals, the SDGs include global action on climate change, the creation of sustainable cities, access to clean water, sanitation and clean affordable energy.

It sounds like a lot, it sounds impossible, but is it?

Central to achieving these goals is the transition to a global sustainable infrastructure, one that no longer relies on fossil fuels and one that ensures the needs of current and future generations continue to be met in a…

Book Review: Climate Crisis and The Global Green New Deal — Noam Chomsky and Robert Pollin

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In a new book Climate Crisis and the Global Green New Deal, Noam Chomsky and Robert Pollin set out the key facts on the accelerating climate crisis, the role of capitalism in contributing to climate change and the need for effective collective action. They discuss how a Global Green New Deal might be funded in order to achieve zero green house emissions by 2050, highlighting the political mobilization necessary to do so.

The discussion framed by questions posed by political economist / scientist C.J…

Book Review: Everyone Knows, Corruption in America — Sarah Chayes

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In her recent book, Everyone Knows, Corruption in America, award-winning journalist Sarah Chayes examines corruption in America, and the evolution of what she refers to as ‘kleptocratic networks’ — powerful individuals working to further their own material interests at the expense of the community.

Opening with the 2016 Supreme Court decision to overturn corruption charges of Virginia governor Bob McDonnell, (who received gifts valuing over one hundred thousand dollas from a tobacco company in exchange for pushing through a new drug that had not been properly tested), Chayes demonstrates how…

How Big Pharma Continues to Hamper the Global Response to COVID

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Before the COVID-19 pandemic, only three out of the world’s eighteen major pharmaceutical companies developed vaccines. It simply wasn’t profitable. Now, there are over one hundred coronavirus vaccines in various stages of development. So why is most of the world’s population not expected to receive vaccinations before 2024?

Bidding Your Way to The Front of the Line

“The US government has the right to the largest pre-order because it’s invested in taking the risk. That’s how it will be because they’ve invested to try and protect their population, to restart their economy.”

This is what the CEO of French pharmaceutical giant Sanofi, Paul Hudson, said in May 2020.


The Lie Behind Free-Market Medicine

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“In our country, under our free enterprise system, we have seen medicine reach the greatest heights that it has in any country in the world.”

This is what Ronald Reagan said in a 1961 radio address to ‘Speak out against Socialized Medicine’.

Free-market medicine, he maintained, allowed Americans the ‘freedom’ to choose their doctors and health insurance plans. But is freedom really freedom in a healthcare system that puts profits before patients?

Over the past sixty years, America’s so-called ‘free enterprise system’ has failed to produce cost-effective quality healthcare solutions. On the contrary, it has bankrupted families after prolonged illnesses…

Is This the Tipping Point?

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We are facing an existential crisis, and it isn’t COVID-19.

The Current System

Consumer capitalism is a profit-driven economic system that has increased resource consumption, waste and pollution. It has contributed to a global financial system that is unstable and fosters inequality, promoting short-sighted individualism over collective needs with devastating long-term effects to the environment.

In, A Life on Our Planet, David Attenborough bears witness to the unprecedented destruction of the natural world that has occurred over the past ninety years — from the destruction of the Borneo and Amazon rainforests, to the death of massive coral reefs and the melting of polar…

Wages, Wealth and ‘Women’s Work’

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Care giving is fundamental and intrinsically linked to the evolution and survival of our species. Taking care of the most vulnerable members of our societiy, be them children or elderly and ailing parents, is something humanity has done for thousands of years.

Yet, in our increasingly globalized world, care giving has come to be circumscribed and defined within our ever growing consumer profit-driven economies, as ‘unskilled’ work. …

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The pandemic highlights the urgent need to reform a global financial system that puts profits before people.

Before the coronavirus hit, one of the only sectors that was booming was the financial sector. Banks made over $230 billion in profits in 2019 yet created almost no jobs. In fact, since the 2008 financial crisis, large banks have consistently cut costs by firing employees, with close to 80,000 lower-level banking jobs cut globally in 2019.

So, where does all the money go?

Despite the recession and pandemic, bank CEOs and top executives still managed to take home millions in bonuses. The…

8 Ways the Gig Economy can sink you

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“At least I have a job.”

That’s what a lot of workers tell themselves when they take on part-time, temporary employment. Better to stay on with a company as an on-call worker than risk not finding another contract, better to be furloughed than fired. These are decisions many have had to make since the beginning of the Covid-19 pandemic. But while part-time gig work is a life-line, it can also be a liability, as more and more of us accept job insecurity and poor labor standards as just another fact of life.

Sanam Akram

Financial & Business writer passionate about economic and business reform for a more just and equitable society. *All views are my own.

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