First World’s moral failure
Sunday, October 26th, 2008Editorial: 26/10/08; (2 Items)
Governments have already thrown trillions of dollars into their own financial systems to save banks from going bust. They have also made it clear they will find whatever trillions more are necessary to stave off global financial meltdown. Now set these massive sums against the maximum of $60 billion a year that the United Nations said in 2000 was necessary to meet the Millennium Development Goals (MDG) to slash Third World poverty by 2015. At the very most the program to attack key issues such as destitution, high mortality, disease, polluted water sources and lack of education would have cost the First World $900 billion — a fraction of the cash that has been found to save the financial system. Yet even when rich countries were prospering, governments with a few exceptions such as the UK, fell seriously behind on their MDG promises. It can with justice be asked how they could not find such relatively small sums for the world’s poorest people but can conjure up far bigger amounts when their own prosperous societies are threatened.
