Viewpoint by Jonathan Power*

LUND, Sweden (IDN) — Adam Smith who in 1776 wrote “The Wealth of Nations”, the Bible of capitalism, which has become the standard economics text for over two centuries, was quick to single out monopolistic tendencies as the most important tool in undermining the virtues of capitalism. It kept the poor poor. The laws that give these capitalists their freedom to exploit the marketplace, so-called rent-seeking, “may be said to be all written in blood”. At the moment, Amazon is in the firing line for practicing such practices. Indeed, a majority of Silicon Valley companies rent-seek. Big pharma companies, like Pfizer, which is expecting this year 25% profits on its corona virus vaccine are another.…

A special feature by Kalinga Seneviratne* to mark UNESCO’s World Press Freedom Day.

SYDNEY (IDN) — In recent months, there has been alarming one-sided reporting in the so-called mainstream media—both internationally and nationally—that sounds more like public relations handouts from the big pharmaceutical companies from the West. This ‘vaccine consent’ journalism and the labelling of anyone questioning the safety or ethics of the vaccine roll out as “conspiracy theorists” is slowly but surely killing the “watchdog” role of journalism.…

By Mahinda Seneviratne*

SYDNEY (IDN) — As twilight approaches, Rakesh (not his real name) mounts his bicycle with a large thermal backpack over his narrow shoulders. He lost his regular job at a small suburban restaurant when the family business could not sustain itself during the Covid-19 pandemic lockdown. With the recent shocking road deaths of three food delivery riders heavily on his mind, Rakesh pedals cautiously into the growing traffic lanes to commence his first home delivery gig.…

By Radwan Jakeem

NEW YORK (IDN) — Eminent thought leaders in economic and social fields have called for fundamental change in the multilateral system in the spirit of international solidarity to combat the severe impacts of COVID-19. They comprise the United Nations High-level Advisory Board on Economic and Social Affairs, convened by the UN Department of Economic and Social Affairs (DESA).

In their two-day meeting middle of April, twenty Advisory Board members explored various approaches to confront the once-in-a-century crisis, with inequalities, climate change and lack of access to COVID vaccines topping the priority list.…

By Radwan Jakeem

NEW YORK (IDN) — With many economies reeling as a result of the COVID-19 pandemic, and as inequalities continue to widen, world leaders discussed options to unlock concrete investments to support a sustainable and resilient recovery at the Forum on Financing for Development (FfD Forum) from April 12-15.

The four-day Forum, held under the auspices of the UN Economic and Social Council (ECOSOC), took place as many countries are facing increased financial debt and liquidity pressures because of the pandemic. The FfD Forum was held virtually, with selected in-person sessions.…

By Jaya Ramachandaran

PARIS (IDN) — The Sahel and West Africa are facing a major food and nutrition crisis for the second consecutive year and 27.1 million people will be at risk during the 2021 lean season, according to experts. A swift and co-ordinated response, they say, is needed alongside a strengthened political commitment to finding more sustainable ways of addressing recurrent crises and the growing need for food assistance across the region.…