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Alex Gladstein: How Poor Countries Prop Up Rich Countries

Coin Stories

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What I Learned From Ghana Gold Mining

In the 90s and 2000s, Ghanaians saw something like only 2 to 3% of the profits from gold mining. So meaning foreign corporations took 97, 98%. And that's an extreme example, but I think it's probably pretty common. Like basically what you see is whether it be gold, tin, lumber, oil in these places, almost all of it accrued to foreign corporations. Then a small percentage would go to like the local ruler and then very little, very little, if any at all, to the local population. It's not like it gets back to theLocal population. If they try to protest against labor conditions or anything like that, they get shot or put down

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