The Perils of Pious Neoliberalism

Amid extreme wealth inequality, Vijay Prashad considers the appeal of reactionary new religious traditions that measure salvation in the present balance of your bank account.   By Vijay Prashad

The International Labour Organisation’s “Global Wage Report 2022–23” tracks the horrendous collapse of real wages for billions of people around the planet.

The gaping distance between the incomes and wealth of 99 percent of the world’s population from the incomes and wealth of the billionaires and near-trillionaires who make up the richest 1 percent is appalling.

During the pandemic, when most of the world has experienced a dramatic loss in their livelihoods, the 10 richest men in the world have doubled their fortunes. This extreme wealth inequality, now entirely normal in our world, has produced immense and dangerous social consequences.

If you take a walk in any city on the planet, not just in the poorer nations, you will find larger and larger clusters of housing that are congested with destitution.

They go by many names:

bastisbidonvilledaldongnehfavelasgecekondukampung kumuh, slums and Sodom and Gomorrah. Here, billions of people struggle to survive in conditions that are unnecessary in our age of massive social wealth and innovative technology.

Source: The Perils of Pious Neoliberalism

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