Is Capitalism Racist?
Intelligence Squared
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Impact of Global Institutions on Social Justice Demands
The formation of global institutions after the end of the European Empire, such as the World Trade Organization, International Monetary Fund, and World Bank, allowed powerful countries to shape the global system and limit demands for social justice from the global South. These institutions blocked demands from newly independent countries for international economic borders that would enable reparations and redistribution of wealth, creating a trading system that favored the free market model. This resulted in a neo-colonial and neo-liberal project that hindered the efforts of countries like Tanzania and Jamaica to uplift themselves from the history of colonialism and provide welfare for their people.
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