Defence spending is booming

PH

(From The Economist 24/04/2023)

Has the Ukraine war started a new arms race? Yes, to judge by figures published on Monday by the Stockholm International Peace Research Institute, a think-tank. Global defence spending rose by 3.7% in real terms in 2022 to a record $2.24trn. It shot up by 9.2% in Russia and septupled in Ukraine. Farther west in Europe, military spending grew by 3.6% to levels unseen since the end of the cold war.
Yet the picture is fuzzy. The economic burden of armed forces, at 2.2% of GDP, remains close to its post-cold-war low. In part, the world economy has grown. Of the biggest arms spenders, America was flat and China dipped as a share of GDP. But many of the promised spending increases are yet to come. Inflation may abate. And geopolitical tension—a long war in Ukraine, and talk of a future one between America and China—will push countries to buy ever more weapons.

Ongelijkheid … en waarom geen belastingen?

A decade ago, Oxfam raised the alarm at the World Economic Forum – an annual meeting of the world’s wealthy elite held in Davos, Switzerland – about extreme levels of inequality. Ever since, billionaires have doubled their wealth, growing by $2.7 BILLION a day since 2020.

Het nieuwe rapport van Oxfam, op de eerste dag van het Wereld Economisch Forum in Davos

Ongelijkheid …

“Remember life before March 2020? So many lives lost, learning delayed, jobs disappeared.

And yet during that time, the few hundred richest people have seen their wealth increase by $4.48 trillion. (Yes, that’s $4,480,000,000,000.00.) That’s not just luck: the wealthiest are rigging the stakes in their favor.”

(Chuck Collins, Inequality.org)