Capitalizing on Catastrophe: Neoliberal Strategies in by Nandini Gunewardena, Mark Schuller, Alexander De Waal, Sara

By Nandini Gunewardena, Mark Schuller, Alexander De Waal, Sara E. Alexander, Gregory Button, Bettina Damiani, Antonio Donini, Elizabeth Guillette, Wahneema Lubiano, Anthony Oliver-Smith, Adolph Reed Jr, Anna Belinda Sandoval Girón, Susan Stonich

In Capitalizing on disaster a global team of students and pros seriously research how neighborhood groups around the globe have ready for and spoke back to fresh cataclysms. The book's important concentration is the expanding development to depend on the personal region to accommodate normal mess ups and other kinds of large-scale devastation, from hurricanes and tsunamis to civil wars and commercial injuries. referred to as "disaster capitalism" by means of its critics, the tendency to agreement inner most pursuits to unravel monstrous, pressing public difficulties should be inevitable yet is very problematic—especially with admire to peoples who need assistance the main. Can deepest reduction teams supply the top precedence to strength and real sufferers of huge mess ups, for instance, if that implies devoting fewer assets to maintaining tourism and different ecocnomic industries? The high-profile participants to this quantity straightforwardly take on such well timed and tough questions of serious public obstacle.

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Additional info for Capitalizing on Catastrophe: Neoliberal Strategies in Disaster Reconstruction (Globalization And The Environment)

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In 1 998, MIGA paid Enron $15 million following a disagreement with the Indonesian government over access to resources. In Deconstructing the Disaster after the Disaster 23 addition, MIGA "protect[s] against losses arising from an investor's inability to convert local currency . . into foreign exchange for transfer abroad,"12 sub­ sidizing the transfer of funds outside of the country, helping capital flight. This also benefits a transnational business class, as a World Bank's "knowledge bank" report flatly states: Post-conflict reconstruction opportunities are of obvious interest to companies that already have international experience.

9 As recipients of government funding, and receiving tax advantages-in the United States through the 501 (c) ( 3) clause of the IRS Code-nonprofit organizations are re­ quired to be more transparent in the use of funds. S. citi­ zen can demand an NGO's 990 form accounting for major expenditures and sources of income. For-profit corporations are not bound by these same pro­ cedures. S. government is required by the Freedom of Information Act (FOIA) to furnish any information requested. This lack of transparency, iron­ ically a consequence of specialized development institutions'10 greater flexibil­ ity, provides an institutional opening for the instrumental promotion of neoliberal capitalist interests.

The task of removing the 'curse' is therefore all the more urgent, and re­ [sic] companies, governments, multilateral in­ 2005 : 10). Through the Multilateral Investment quires the participation of both stitutions and NGOs" (Bray Guarantee Agency (MIGA), the World Bank assumes the risk, including "po­ litical risk" such as the change in government or policy environment or a "war and civil disturbance," of foreign companies to facilitate their operations. MIGA is part of a loan and grant portfolio geared toward postconflict states, therefore claims paid to private corporations are added to the overall debt charged to the country.

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