Economy

Many people gasped when they read that an Oxfam study found that the richest 85 people in the world own the same wealth as the poorest half of the global population. It is shocking and unconscionable. It is grossly unfair and unjust. But it is much more than this. This unimaginable concentration of wealth condemns the liveability of the planet and makes permanent war inescapable – for how else but through ruthless violence can this wealth and power of the privileged few be maintained?

The Communications Workers Union (CWU) has called for Australia Post to expand its services to include banking and insurance. The postal workers' union said this would help strengthen Australia Post as a public enterprise, while challenging the power of the big four banks and improving services in regional and rural areas.

Australian activists have written to Prime Minister Tony Abbott calling on him to recognise East Timor's rights under international law to oil and gas resources in the Timor Sea. The Melbourne-based Timor Sea Justice Campaign is calling on Australia to “enter discussions about the establishment of permanent maritime boundaries in accordance with current international law. In situations such as this, current international law overwhelmingly favors a ‘median line’ solution – a line halfway between the two coastlines.”

Once a year, the world's political and business leaders flock to a small town in the Alps to drink champagne, chow down on fondue and chocolate-covered strawberries, hit the ski slopes, bathe in hot tubs and exchange business cards as they congratulate themselves on the fine job they're doing running things. Oh, and while in Davos, Switzerland, they also take part in the World Economic Forum (WEF), which took place from January 22-25.

Banjo-picking American troubadour Pete Seeger died on January 27 at the age of 94. In a career that spanned eight decades, he sang for migrant workers, peace activists and anti-capitalists.

“Seattle’s only Socialist City Council member announced Monday that she will make good on a campaign pledge and accept only [US]$40,000 a year in salary — bringing her down to the average wage of a worker in the city,” NBCNews.com said on January 27.

Bill Gates is worried -- too many people are talking about raising the minimum wage. Appropriately, the world’s richest man spoke on the eve of the World Economic Summit in Davos. Gates is a great symbol of the Davos summit, an annual away day for global capitalism.There, the world’s 1% mouth concerns about poverty and climate change while working on policies that fuel inequality.

The Venezuelan government plans to continue its land expropriations this year in its push to move towards what it terms “agrarian socialism”. In the 2014 national budget, the government’s National Land Institute (INTI) sets its aim to expropriate 350,000 hectares of land this year. This compares with the goals of 350,000 and 397,000 hectares of land the government sought to expropriate in 2012 and last year respectively. The government began to increase the pace of land expropriations in 2011.

Communes and social movements have demanded the Venezuelan government combat the assassination of rural activists in the mountains of western Venezuela, which they say is undermining communal organising in the region.

The one thing that we can expect with some confidence this year is an increase in unemployment. An analysis of Australian employment statistics for 2013 shows that jobs growth was at its lowest level for more than 20 years. Last year, unemployment increased by more than 5000 people a month. In the month of December, the economy lost 23,000 jobs, making last year the weakest calendar year of jobs growth since 1992. The number of officially unemployed increased by more than 9% to 722,000.

Tasmanian Premier Lara Giddings sacked Greens ministers Nick McKim and Cassie O’Connor from cabinet on January 15 — the same day that she announced a state election would be held in March. The Greens have shared power with Labor since a minority government was elected in 2010. But the deal has proven unpopular with Labor voters and Giddings has ruled out a power-sharing deal with the Greens in future.

The Manila Seedling Bank, a seven hectare area of small market gardens and big and small shops selling plants, was a rare green space among the traffic jams, shopping malls and slums on the intersection of Quezon and Edsa Avenues in Quezon City, Metro Manila. It was also home to a community of hundreds of smallholding horticulturalists and their families. That was until January 20.