The world has enough resources to feed, educate, and sustain everyone. A just economic system would ensure equality and fair distribution of these resources to benefit all. However, due to unjust economic structures and policies orchestrated by neoliberal capitalism, resources are unfairly distributed, owned, and controlled by a few wealthy individuals and corporations while most of the world’s population is impoverished and excluded from economic participation. The wealth gap continues to widen, with the world’s richest 1% holding more than twice as much wealth as 6.9 billion people combined. Additionally, Global South countries spend $2.3 trillion annually on debt repayment, as reported by the UN. These realities highlight the systemic nature of economic inequality and the burdens placed on impoverished nations through exploitative interest rates and a colonial, discriminatory tax system.
ESCR-Net recognizes the need to build a critical analysis of this system, starting by examining its colonial roots to expose the undue influence of corporate actors and financial elites, to articulate just and viable economic and development alternative models that center on human rights, people’s well-being, and the planet, while strengthening the accountability of economic institutions.