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the People Have Nothing
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Eat the Rich: The Third
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<span
style="font-family:lato,helvetica
neue,helvetica,arial,sans-serif">
<div id="attachment_71610"
class="wp-caption
aligncenter"><img
aria-describedby="caption-attachment-71610"
class="wp-image-71610
size-full img-responsive
mcRssImage"
src="https://thetricontinental.org/wp-content/uploads/2023/01/Maruja-Mallo-Spain.-La-Verbena-1927..jpg"
alt="Maruja Mallo (Spain),
La Verbena (‘The Fair’),
1927."
srcset="https://thetricontinental.org/wp-content/uploads/2023/01/Maruja-Mallo-Spain.-La-Verbena-1927..jpg
950w,
https://thetricontinental.org/wp-content/uploads/2023/01/Maruja-Mallo-Spain.-La-Verbena-1927.-300x218.jpg
300w,
https://thetricontinental.org/wp-content/uploads/2023/01/Maruja-Mallo-Spain.-La-Verbena-1927.-768x557.jpg
768w" sizes="(max-width:
950px) 100vw, 950px"
style="max-width:
100%;width:
100%;padding-bottom:
0;display:
inline;vertical-align:
bottom;border: 0;height:
auto;outline:
none;text-decoration:
none;-ms-interpolation-mode:
bicubic;"
moz-do-not-send="true"
width="950" border="0">
<p
id="caption-attachment-71610"
class="wp-caption-text"
style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"><span
style="color: #ba2025;">Maruja
Mallo (Spain), <i>La
Verbena </i>(‘The
Fair’), 1927.</span></p>
</div>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">Dear
friends,</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">Greetings
from the desk of <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=a1c4e0c8f4&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">Tricontinental:
Institute for Social
Research</a>.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">On 8
January, large crowds of
people dressed in colours of
the Brazilian flag <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=24b927ff42&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">descended</a> on
the country’s capital,
Brasília. They invaded
federal buildings, including
the Congress, Supreme Court,
and presidential palace,
and <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=36e32b0c0e&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">vandalised</a> public
property. The attack,
carried out by supporters of
former President Jair
Bolsonaro, came as no
surprise, since the rioters
had been <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=1a608ef2c3&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">planning</a>
‘weekend demonstrations’ on
social media for days. When
Luiz Inácio Lula da Silva
(known as Lula) was
formally <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=4997d30179&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">sworn
in</a> as Brazil’s new
president one week prior, on
1 January, there was no such
melee; it appears that the
vandals were waiting until
the city was quiet and Lula
was out of town. For all its
bluster, the attack was an
act of extreme cowardice.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">Meanwhile,
the defeated Bolsonaro was
nowhere near Brasília. He <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=7033277810&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">fled</a>
Brazil prior to the
inauguration – presumably to
escape prosecution – and
sought haven in Orlando,
Florida (in the United
States). Even though
Bolsonaro was not in
Brasília, the Bolsonaristas,
as his supporters are known,
left their mark throughout
the city. Even before
Bolsonaro lost the election
to Lula this past October, <i>Le
Monde Diplomatique Brasil</i> <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=12702a51e1&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">suggested</a> that
Brazil was going to
experience ‘Bolsonarism
without Bolsonaro’. This
prediction is supported by
the fact that the far-right
Liberal Party, which served
as Bolsonaro’s political
vehicle during his
presidency, holds the
largest bloc in the
country’s Chamber of
Deputies and Senate, while
the toxic influence of the
right wing persists both in
Brazil’s elected bodies and
political climate,
especially on social media.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<div id="attachment_71620"
class="wp-caption
aligncenter"><img
aria-describedby="caption-attachment-71620"
loading="lazy"
class="wp-image-71620
size-full img-responsive
mcRssImage"
src="https://thetricontinental.org/wp-content/uploads/2023/01/Mayo-Egypt-Un-soir-a-Cannes-1948-e1674067457705.jpg"
alt=""
srcset="https://thetricontinental.org/wp-content/uploads/2023/01/Mayo-Egypt-Un-soir-a-Cannes-1948-e1674067457705.jpg
800w,
https://thetricontinental.org/wp-content/uploads/2023/01/Mayo-Egypt-Un-soir-a-Cannes-1948-e1674067457705-300x291.jpg
300w,
https://thetricontinental.org/wp-content/uploads/2023/01/Mayo-Egypt-Un-soir-a-Cannes-1948-e1674067457705-768x745.jpg
768w" sizes="(max-width:
800px) 100vw, 800px"
style="max-width:
100%;width:
100%;padding-bottom:
0;display:
inline;vertical-align:
bottom;border: 0;height:
auto;outline:
none;text-decoration:
none;-ms-interpolation-mode:
bicubic;"
moz-do-not-send="true"
width="800" border="0">
<p
id="caption-attachment-71620"
class="wp-caption-text"
style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"><span
style="color: #ba2025;">Mayo
(Egypt), <i>Un soir à
Cannes </i>(‘An
Evening in Cannes’),
1948.</span></p>
</div>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
two men responsible for
public safety in Brasília –
Anderson Torres (the
secretary of public security
of the Federal District) and
Ibaneis Rocha (the governor
of the Federal District) –
are close to Bolsonaro.
Torres <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=7bdc7a61c4&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">served</a>
as the minister of justice
and public security in
Bolsonaro’s government,
while Rocha formally <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=99e671a7cc&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">supported</a>
Bolsonaro during the
election. As the
Bolsonaristas prepared their
assault on the capital, both
men appeared to have
abdicated their
responsibilities: Torres was
on <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=51f05bcdfe&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">holiday</a> in
Orlando, while Rocha <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=60d2be65ce&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">took</a>
the afternoon off on the
last working day before the
coup attempt. For this <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=75b68e43fd&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">complicity</a> in
the violence, Torres has
been dismissed from his post
and faces charges, and Rocha
has been suspended. The
federal government has taken
charge of security
and arrested over a <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=d93e329d7d&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">thousand</a> of
these ‘fanatic Nazis’, as
Lula <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=96952dfa94&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">called</a> them.
There is a good <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=17c17e4880&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">case</a>
to be made that these
‘fanatic Nazis’ do not
deserve amnesty.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
slogans and signs that
pervaded Brasília on 8
January were less about
Bolsonaro and more about the
rioters’ hatred for Lula and
the potential of his
pro-people government. This
sentiment is shared by big
business sectors – mainly
agribusiness – which are
furious about the reforms
proposed by Lula. The attack
was partly the result of the
built-up frustration felt by
people who have been <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=3daa0c8edc&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">led</a>,
by intentional
misinformation campaigns and
the use of the judicial
system to unseat the Lula’s
party, the Workers’ Party
(PT), through ‘lawfare’, to
believe that Lula is a
criminal – even though the
courts have <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=c7de43e53b&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">ruled</a> this
to be false. It was also a
warning from Brazil’s
elites. The unruly nature of
the attack on Brasília
resembles the 6 January 2021
attack on the US Capitol by
supporters of former US
President Donald Trump. In
both cases, far-right
illusions, whether about the
dangers of the ‘socialism’
of US President Joe Biden or
the ‘communism’ of Lula,
symbolise the hostile
opposition of the elites to
even the <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=83c32d9408&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">mildest</a> rollback
of neoliberal austerity.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<div id="attachment_71630"
class="wp-caption
aligncenter"><img
aria-describedby="caption-attachment-71630"
loading="lazy"
class="wp-image-71630
size-full img-responsive
mcRssImage"
src="https://thetricontinental.org/wp-content/uploads/2023/01/Kartick-Chandra-Pyne-India-Workers-1965..jpg"
alt=""
srcset="https://thetricontinental.org/wp-content/uploads/2023/01/Kartick-Chandra-Pyne-India-Workers-1965..jpg
950w,
https://thetricontinental.org/wp-content/uploads/2023/01/Kartick-Chandra-Pyne-India-Workers-1965.-300x229.jpg
300w,
https://thetricontinental.org/wp-content/uploads/2023/01/Kartick-Chandra-Pyne-India-Workers-1965.-768x587.jpg
768w" sizes="(max-width:
950px) 100vw, 950px"
style="max-width:
100%;width:
100%;padding-bottom:
0;display:
inline;vertical-align:
bottom;border: 0;height:
auto;outline:
none;text-decoration:
none;-ms-interpolation-mode:
bicubic;"
moz-do-not-send="true"
width="950" border="0">
<p
id="caption-attachment-71630"
class="wp-caption-text"
style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"><span
style="color: #ba2025;">Kartick
Chandra Pyne (India), <i>Workers</i>,
1965.</span></p>
</div>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
attacks on government
offices in the United States
(2021) and Brazil (2023), as
well as the recent <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=b56eb37d5d&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">coup</a>
in Peru (2022), are not
random events; beneath them
is a pattern that requires
examination. At
Tricontinental: Institute
for Social Research, we have
been engaged in this study
since our founding five
years ago. In our first
publication, <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=2c6502b6ec&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true"><i>In
the Ruins of the Present</i></a>
(March 2018), we offered a
preliminary analysis of this
pattern, which I will
develop further below.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">After
the Soviet Union collapsed
in 1991 and the Third World
Project withered as a result
of the debt crisis, the
US-driven agenda of
neoliberal globalisation
prevailed. This programme
was characterised by the
state’s withdrawal from the
regulation of capital and by
the erosion of social
welfare policies. The
neoliberal framework had two
major consequences: first, a
rapid increase in social
inequality, with the growth
of billionaires at one pole
and the growth of poverty at
the other, along with an
exacerbation of inequality
along North-South lines; and
second, the consolidation of
a ‘centrist’ political force
that pretended that history,
and therefore politics, had
ended, leaving only
administration (which in
Brazil is well-named as <i>centrão</i>,
or the ‘centre’) remaining.
Most countries around the
world fell victim to both
the neoliberal austerity
agenda and this ‘end of
politics’ ideology, which
became increasingly
anti-democratic, making the
case for technocrats to be
in charge. However, these
austerity policies, cutting
close to the bone of
humanity, created their own
new politics on the streets,
a trend that was
foreshadowed by the IMF
riots and bread riots of the
1980s and later coalesced
into the
‘anti-globalisation’
protests. The US-driven
globalisation agenda
produced new contradictions
that belied the argument
that politics had ended.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<div id="attachment_71640"
class="wp-caption
aligncenter"><img
aria-describedby="caption-attachment-71640"
loading="lazy"
class="wp-image-71640
size-full img-responsive
mcRssImage"
src="https://thetricontinental.org/wp-content/uploads/2023/01/Leonara-Carrington-Mexico-Figuras-fantasticas-a-caballo-2011..jpg"
alt=""
srcset="https://thetricontinental.org/wp-content/uploads/2023/01/Leonara-Carrington-Mexico-Figuras-fantasticas-a-caballo-2011..jpg
880w,
https://thetricontinental.org/wp-content/uploads/2023/01/Leonara-Carrington-Mexico-Figuras-fantasticas-a-caballo-2011.-300x142.jpg
300w,
https://thetricontinental.org/wp-content/uploads/2023/01/Leonara-Carrington-Mexico-Figuras-fantasticas-a-caballo-2011.-768x363.jpg
768w" sizes="(max-width:
880px) 100vw, 880px"
style="max-width:
100%;width:
100%;padding-bottom:
0;display:
inline;vertical-align:
bottom;border: 0;height:
auto;outline:
none;text-decoration:
none;-ms-interpolation-mode:
bicubic;"
moz-do-not-send="true"
width="880" border="0">
<p
id="caption-attachment-71640"
class="wp-caption-text"
style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"><span
style="color: #ba2025;">Leonora
Carrington (Mexico), <i>Figuras
fantásticas a caballo
</i>(‘Fantastical
Figures on Horseback’),
2011.</span></p>
</div>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
Great Recession that set in
with the global financial
crisis of 2007–08
increasingly invalidated the
political credentials of the
‘centrists’ who had managed
the austerity regime. The <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=70cd771cf2&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true"><i>World
Inequality Report 2022</i></a>
is an indictment of
neoliberalism’s legacy.
Today, wealth inequality is
as bad as it was in the
early years of the twentieth
century: on average, the
poorest half of the world’s
population owns just $4,100
per adult (in purchasing
power parity), while the
richest 10 percent owns
$771,300 – roughly 190 times
as much wealth. Income
inequality is equally harsh,
with the richest 10 percent
absorbing 52 percent of
world income, leaving the
poorest 50 percent with
merely 8.5 percent of world
income. It gets worse if you
look at the ultra-rich.
Between 1995 and 2021, the
wealth of the top one
percent grew astronomically,
capturing 38 percent of
global wealth while the
bottom 50 percent only
‘captured a frightening two
percent’, the authors of the
report write. During the
same period, the share of
global wealth owned by the
top 0.1 percent rose from 7
percent to 11 percent. This
obscene wealth – largely
untaxed – provides this tiny
fraction of the world’s
population with a
disproportionate amount of
power over political life
and information and
increasingly squeezes the
ability of the poor to
survive.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
World Bank’s <i>Global
Economic Prospects</i> <a
href="https://thetricontinental.us11.list-manage.com/track/click?u=6a79324d3b4acfde1e7e546c6&id=3e4792e5ba&e=d206d0a40d"
style="mso-line-height-rule: exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust:
100%;color:
#007C89;font-weight:
normal;text-decoration:
underline;"
moz-do-not-send="true">report</a>
(January 2023) forecasts
that, at the end of 2024,
gross domestic product (GDP)
in 92 of the world’s poorer
countries will be 6 percent
below the level expected on
the eve of the pandemic.
Between 2020 and 2024, these
countries are projected to
suffer a cumulative loss in
GDP equal to roughly 30
percent of their 2019 GDP.
As central banks in the
richest countries tighten
their monetary policies,
capital for investment in
the poorer nations is drying
up and the cost of debts
already held has increased.
Total debt in these poorer
countries, the World Bank
notes, ‘is at a 50-year
high’. Roughly one in five
of these countries are
‘effectively locked out of
global debt markets’, up
from one in fifteen in 2019.
All of these countries –
excluding China – ‘suffered
an especially sharp
investment contraction of
more than 8 percent’ during
the pandemic, ‘a deeper
decline than in 2009’, in
the throes of the Great
Recession. The report
estimates that aggregate
investment in these
countries will be 8 percent
lower in 2024 than had been
expected in 2020. Faced with
this reality, the World Bank
offers the following
prognosis: ‘Sluggish
investment weakens the rate
of growth of potential
output, reducing the
capacity of economies to
increase median incomes,
promote shared prosperity,
and repay debts’. In other
words, the poorer nations
will slide deeper into a
debt crisis and into a
permanent condition of
social distress.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<div id="attachment_71650"
class="wp-caption
aligncenter"><img
aria-describedby="caption-attachment-71650"
loading="lazy"
class="wp-image-71650
size-full img-responsive
mcRssImage"
src="https://thetricontinental.org/wp-content/uploads/2023/01/Roberto-Matta-Chile-Invasion-of-the-Night-1942..jpg"
alt=""
srcset="https://thetricontinental.org/wp-content/uploads/2023/01/Roberto-Matta-Chile-Invasion-of-the-Night-1942..jpg
950w,
https://thetricontinental.org/wp-content/uploads/2023/01/Roberto-Matta-Chile-Invasion-of-the-Night-1942.-300x190.jpg
300w,
https://thetricontinental.org/wp-content/uploads/2023/01/Roberto-Matta-Chile-Invasion-of-the-Night-1942.-768x487.jpg
768w" sizes="(max-width:
950px) 100vw, 950px"
style="max-width:
100%;width:
100%;padding-bottom:
0;display:
inline;vertical-align:
bottom;border: 0;height:
auto;outline:
none;text-decoration:
none;-ms-interpolation-mode:
bicubic;"
moz-do-not-send="true"
width="950" border="0">
<p
id="caption-attachment-71650"
class="wp-caption-text"
style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"><span
style="color: #ba2025;">Roberto
Matta (Chile), <i>Invasion
of the Night</i>,
1942.</span></p>
</div>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
World Bank has sounded the
alarm, but the forces of
‘centrism’ – beholden to the
billionaire class and the
politics of austerity –
simply refuse to pivot away
from the neoliberal
catastrophe. If a leader of
the centre-left or left
tries to wrench their
country out of persistent
social inequality and
polarised wealth
distribution, they face the
wrath of not merely the
‘centrists’, but the wealthy
bondholders in the North,
the International Monetary
Fund, and the Western
states. When Pedro Castillo
won the presidency in Peru
in July 2021, he was not
permitted to pursue even a
Scandinavian form of social
democracy; the coup
machinations against him
began before he was
inaugurated. The civilised
politics that would end
hunger and illiteracy are
simply not permitted by the
billionaire class, who spend
vast amounts of money on
think tanks and media to
undermine any project of
decency and fund the
dangerous forces of the far
right, who shift the blame
for social chaos away from
the tax-free ultra-rich and
the capitalist system and
onto the poor and
marginalised.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">The
hallucinatory insurrection
in Brasília emerged from the
same dynamic that produced
the coup in Peru: a process
in which ‘centrist’
political forces are funded
and brought to power in the
Global South to ensure that
their own citizens remain at
the rear of the queue, while
the wealthy tax-free
bondholders of the Global
North remain at the front.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<div id="attachment_71660"
class="wp-caption
aligncenter"><img
aria-describedby="caption-attachment-71660"
loading="lazy"
class="wp-image-71660
size-full img-responsive
mcRssImage"
src="https://thetricontinental.org/wp-content/uploads/2023/01/Ivan-Sagita-Indonesia-A-Dish-for-Life-2014.-e1674067487950.jpg"
alt=""
srcset="https://thetricontinental.org/wp-content/uploads/2023/01/Ivan-Sagita-Indonesia-A-Dish-for-Life-2014.-e1674067487950.jpg
800w,
https://thetricontinental.org/wp-content/uploads/2023/01/Ivan-Sagita-Indonesia-A-Dish-for-Life-2014.-e1674067487950-300x300.jpg
300w,
https://thetricontinental.org/wp-content/uploads/2023/01/Ivan-Sagita-Indonesia-A-Dish-for-Life-2014.-e1674067487950-150x150.jpg
150w,
https://thetricontinental.org/wp-content/uploads/2023/01/Ivan-Sagita-Indonesia-A-Dish-for-Life-2014.-e1674067487950-768x768.jpg
768w" sizes="(max-width:
800px) 100vw, 800px"
style="max-width:
100%;width:
100%;padding-bottom:
0;display:
inline;vertical-align:
bottom;border: 0;height:
auto;outline:
none;text-decoration:
none;-ms-interpolation-mode:
bicubic;"
moz-do-not-send="true"
width="800" border="0">
<p
id="caption-attachment-71660"
class="wp-caption-text"
style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"><span
style="color: #ba2025;">Ivan
Sagita (Indonesia), <i>A
Dish for Life</i>,
2014.</span></p>
</div>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;"> </p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">On
the barricades of Paris on
14 October 1793, Pierre
Gaspard Chaumette, the
president of the Paris
Commune who himself fell to
the guillotine to which he
sent many others, quoted
these fine words from
Jean-Jacques Rousseau: ‘When
the people shall have
nothing more to eat, they
will eat the rich’.</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">Warmly,</p>
<p style="margin: 10px
0;padding:
0;mso-line-height-rule:
exactly;-ms-text-size-adjust:
100%;-webkit-text-size-adjust: 100%;color: #202020;font-family:
Helvetica;font-size:
16px;line-height:
150%;text-align: left;">Vijay</p>
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Tricontinental: Institute for Social Research ·
Shadipur · New Delhi, New Delhi 110008 · India <br>
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