Between the IMF, the World Bank, and the WTO we begin the journey into acronym ladened globalization lead by the neoliberal policies of Bretton Woods. Although the intentions appeared to be in the best interest of the average person, with trade incentivizing countries to create ties rather than going to war. We began an era of subsidized and industrialized agriculture, social and economic enclaving, and a commodities system that includes chains to nowhere.
The food and agriculture industries suffered drastic blows in developing parts of the world where their input is a much larger portion of the economy. The tariffs and policies created by first world countries with the help of the major financial institutions helped make it possible to utilize cheap labor in parts of the world which lead to what are called rentier states. This is when a country’s government procures its profits from multinational corporations for developing the local resources. Unfortunately these corporations often use their own labor force, ruin the local ecology, and create a situation where the state is incentivized to be tyrannical rather than symbiotic with its society. This collapse of state society relations plays into the desperate levels of poverty and famine that we see in many nations around the world.
How do we go about altering our economic policy in order to create social equality on a global scale? We start by addressing monetary policy that disproportionately favors major corporations over local and small businesses world wide. We help the International Criminal Court pursue and effectuate its work by having all developed nations back their plays with financial and military support. We have the opportunity to fix our commodity chains, our poverty, and our desperate state of inequality, but will we take it?