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What the developing world’s known all along

April 16, 2009

As mentioned here before, economic crisis is nothing new to people living in the real or metaphoric South. ‘Despite an avalanche of evidence indicating that the gulf between the rich and the poor – inside states just as much as between states – was actually increasing, it was simply too big a leap for most in the class to critique the entire system. What was clear to those ill-served by the unfettered advance of hyper-capitalism – globalisation’s “discontents,” in economist Joseph Stiglitz’s phrase – was not so obvious to us sitting in its epicenter.’

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