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April 2011 - Centre for Civil Society - University of KwaZulu-Natal

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politics and major risks and trends around the world. He says he wrote the<br />

book because he has children and wants them to have a future.[33]<br />

Does Emergent Asset, however, call <strong>for</strong> a concerted global ef<strong>for</strong>t <strong>for</strong><br />

human beings to try to head <strong>of</strong>f these disasters and solve the problems<br />

that will surely cause suffering <strong>for</strong> children all over the world?<br />

No, anything but. Instead, Emergent <strong>of</strong>fers its wealthy clients a whole new<br />

series <strong>of</strong> funds designed to take advantage <strong>of</strong> each <strong>of</strong> the ominous global<br />

trends outlined in the book. Funds will be designed to ‘benefit’ from<br />

expected growing military spending and be built around both Western and<br />

emerging defence contractors, as Murrin says China will be at war with the<br />

US within 15 years.[34] He sees great pr<strong>of</strong>iteering opportunities in the<br />

decline <strong>of</strong> empires as they tend to suffer from more epidemics, so the fund<br />

will buy shares in pharmaceutical companies. And there are also great<br />

ways to capitalise on climate change and food shortages, which Emergent<br />

is doing by grabbing vast swathes <strong>of</strong> farmland in southern Africa.<br />

Disaster capitalism. Banking on catastrophe. At least vultures wait until<br />

after death to feed on cadavers.<br />

The glossary <strong>of</strong> greed reveals a great deal about the upside-down values<br />

that have created a world where wealth is worshipped, compassion and<br />

sharing are disdained, and where greed, vanity, selfishness and coldblooded<br />

ruthlessness are not vices – they have become virtues. They<br />

produce and prop up a highly stratified world that has become<br />

treacherously top-heavy. So few people now control such a large<br />

proportion <strong>of</strong> the world’s wealth because they’ve reshaped the world <strong>for</strong><br />

themselves – subverted democracy and laid the groundwork <strong>for</strong> global<br />

turmoil and suffering, laughing all the way to the (<strong>of</strong>fshore) bank.<br />

www.pambazuka.org<br />

BROUGHT TO YOU BY PAMBAZUKA NEWS<br />

Joan Baxter is a journalist and award-winning author. Her book ‘Dust from<br />

our Eyes: an Unblinkered Look at Africa’ is published by Pambazuka Press.<br />

‘Tax us if you Can’ by Khadija Sharife is a short introduction on the subject<br />

<strong>of</strong> tax justice, to be published by Pambazuka Press in October <strong>2011</strong>.<br />

Please send comments to editor@pambazuka.org or comment online at<br />

Pambazuka News.<br />

Reference<br />

[1] Forbes: The World’s Billionaires. http://bit.ly/hnZ5RP<br />

[2] According to World Bank Development Indicators, the global GDP in<br />

2009 was $58.1 trillion. http://bit.ly/fTaXjx<br />

[3] Risen, James and Lichtblau, Eric. 9 March <strong>2011</strong>. Hoard <strong>of</strong> cash lets<br />

Qaddafi extend fight against rebels. New York Times.<br />

http://nyti.ms/ejKn1f<br />

[4] Inman, Phillip. 4 February <strong>2011</strong>. Mubarak family <strong>for</strong>tune could reach<br />

$70bn, say experts. Egyptian president has cash in British and Swiss banks<br />

plus US and UK property. The Guardian. http://bit.ly/fNiB5n<br />

[5] Tax Justice Network. March 2005. Briefing paper: The Price <strong>of</strong><br />

Offshore.

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