Here Cindy talks with Paula Kensington to explore the roots of a global financial system that was shaped to serve the colonial project and carries that in the DNA ofits design.From the Bank of England’s role in enabling the UK to become the most powerful slave trading nation to the IMF and the World Bank that now perpetrate a system of debt bondage and economic dependency.
Strictures that make it almost financially impossible for many global south countries to adapt to or to mitigate climate breakdown. Yet the iron grip these institutions hold both on the global financial architecture and in our psyches mean debt jubilees, loss and damage and reparations remain outliers instead of the crucial solutions they represent.
This intriguing episode questions the effects of GDP as the only measure of a country’s progress regardless of how that wealth is generated. How from the corporate laws and economic structures instituted during the colonial project, the ‘greed economy’ has gone viral, giving legitimacy at board level to the statement “our primary responsibility is to our shareholders”, regardless of the state of the life support system on which the generation of these profits depends.
