…multinational corporations are not in the development business; their objective is to maximise their return on capital. MNCs seek out the best profit opportunities and are largely unconcerned with issues such as poverty, inequality, employment conditions, and environmental problems.”
Given the regulatory capture of the political structures in the developed world by powerful business interests, it seems that this situation is likely to endure for the foreseeable future. Development will only come about when the LDCs take their fate into their own hands and emulate the nation-building strategies of East Asia.
The Greek historian Thucydides astutely noted that empires and democracy simply don’t mix; when democracies become empires and those empires begin to get out of control, the methods of supressing resistance in those empires will also be used back home at National HQ in the imperial state. As is already apparent this involves thought-control and moves on to other and cruder forms of suppression including incarceration and outright physical violence.
So, this is where we have arrived. All the promises of a Brave New World after the fall of the Berlin Wall did not come to pass ….