Link to this page: http://www.socialistparty.org.uk/issue/966/26266
The Socialist 11 October 2017 |
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IMF helps cause inequality it slams
Inequality (Click to enlarge)
The International Monetary Fund's warnings about inequality have had no effect on its efforts to worsen inequality.
The United Nations' global loan shark is anxious about rising anger at inequality threatening the capitalist system. It's not alone.
The director of the IMF, Christine Lagarde, has said that "excessive inequality is corrosive to growth; it is corrosive to society."
But - surprise, surprise - this shift in rhetoric has not stopped the IMF forcing massive austerity and privatisation. A new study by Oxfam, 'Great Expectations', finds that "rapid fiscal and monetary tightening" is still the lender's only prescription.