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Bank of mum and dad: increasingly important for getting on the property ladder!

Young adults have become increasingly dependent on financial support from their parents to finance their first house purchases.

Those without access to parental support (i.e. those with poorer parents) are less likely to be able to get on the property ladder. 

This is according to the latest research from the Resolution Foundation with examines the impact on parental wealth on home ownership, exploring the relationship between parental support and the ability of young adults today to purchase their first property. 

Some of the key findings of the report were as follows:

The children of wealthier parents are much more likely to become homeowners themselves: from the mid 2000s, children with parents with property wealth were three times as likely to become homeowners as those without property wealth. 

The children of wealthier parents become homeowners at an earlier age than those of less wealthy parents. 

The report also found that:

    • This relationship continues to hold even once someone’s salary, their education, where they live and whether they are in a couple or not are all taken into account.
    • The relationship between parental wealth and their children’s homeownership has risen over time.

The significance of these statistics:

This is bleak reading for anyone interested in economic equality, because this trend suggests that what’s occurring here is the reproduction of class inequality.

The findings of this report will probably come as no surprise to anyone, it just seems to be confirming what is really damn obvious!

This report is probably a good example of a document that’s been produced because of a value-agenda (so the choice of topic is not value free!) and yet the research is probably ‘objective’ in the sense that it’s difficult to bias these figures…. finances tend to be ‘hard statistics’ and it’s difficult for researchers to skew them, even if they want a certain outcome!

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Nevis: A Tax Haven Preventing Positive Globalization?

The Island of Nevis is the most secretive tax haven in the world. Nevis is a solitary volcano in the Caribbean, with a population of just 11, 000, notorious for its involvement in Britain’s biggest ever tax fraud, as well as having been implicated in many other sordid financial scams of modern times, such as when 620, 000 Americans were fleeced out of $220 million in a pay-day loan scam.

tax-haven-map.jpg

Despite its tiny population, Nevis is also home to six domestic banks, one international bank, 18 insurance managers, and dozens of registered law firms. In fact Nevis might well have the highest lawyer to person* ratio on earth.

Nevis is becoming increasingly popular with the world’s rich: since 2012 its financial services sector has grown by a quarter.

Nevis specializes in letting its clients create and register corporations with greater anonymity than almost any other place on planet earth:  even the island’s own corporate land registry doesn’t know who owns the corporations registered there.

Companies benefit from further protections: if you suspect a company of having acquired some of its assets illegally, you have to file $100 000 bond with the courts in Nevis before initiating legal proceedings, in order to make sure that no-one makes frivolous claims.

Not that you would have much luck filing a claim against a company registered on the island: Nevis’ regulator holds no information on who owns the companies registered there, or on who owns its companies’ assets.

Then there’s the fact that anyone disclosing financial information without a court order is liable for a $10 000 fine and up to a year in prison. This would serve to put of investigative journalists.

All of this poses a problem for authorities wishing to tackle global crime: if Nevis continues to guarantee anonymity over ownership of assets then there is no way for global crime fighting agencies to trace whether or not those assets have been acquired illegally.

A further problem is that it makes it more difficult for nation states to track down whether large corporations or individuals are dodging their taxes.

Relevance of this case study to A-level sociology 

The existence of tax havens demonstrates the absence of global social norms pertaining to tax, and to the relative powerlessness of Nation States to control flows of global capital.

It also suggests support for the Marxist/ World Systems Theory view of globalization. The existence of Tax Havens allows the richest to keep their wealth, perpetuating global inequality. They certainly don’t benefit the global poor!

*some research suggests that ‘lawyer’ and ‘person’ are mutually exclusive categories. Although there’s no actual evidence to back this up.

Sources: The Week July 2018.

This post will also be published to the steem blockchain. 

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Exploring Inequality in Life Expectancy in the United Kingdom

Get rich or Die Young (BBC, Panorama 2018) explores the causes and consequences of low life expectancy in Teeside, in the North East of the United Kingdom. It focuses on the experiences of three people who are living through three of the main causes of low life expectancy: smoking and poor diet, drug addiction and mental ill health.

The documentary is hosted by the ever-reliable Richard Bilton, who seems to be the BBC’s go-to guy for these social injustice documentaries.

Teeside has the largest life expectancy gap in the country. Those in poorest boroughs of the region have a life expectancy of just 67, the same as Ethiopia. Those living just a couple of miles away in the wealthiest boroughs live until 85, 4 years above the national average.

This means that the life expectancy gap between the poorest and richest boroughs in Teeside is 18 years.

The inequalities are literally written on the gravestones, where in some graveyards, 60 years seems like a ‘good innings’

low life expectancy UK.png

Richard Bilton points out early on that most babies in the U.K are born healthy, but a baby’s health is shaped by what comes next, and a crucial variable which influences health and life expectancy is wealth, or lack of it.

He also suggests more than once that leading an unhealthy life is not simply a matter of individuals making poor choices. Rather, being socialised into poverty restricts the kinds of choices people can make, and in extreme cases results in stress which seems to literally take 10 years off an individual’s life.

The first of the three emotionally charged case studies focuses on a 46-year-old male whose life is nearly over. He has fluid on the lungs, sciatica, and type 2 Diabetes, among other things, and is dependent on breathing apparatus.

get rich die young.png

There’s quite a lot of footage of his 4/5 kids musing about how he hasn’t got much time left…. And I guess that’s the ultimate negative consequence of his dying in his late 40s: a partner left to bring up 4 distraught kids on her own

His Illnesses are down to smoking and poor diet: people are four times more likely to smoke than those from wealthy areas.

The second case study focuses on a gran mother who is bringing up her daughters two children because she seems to be a hopeless crack addict. We see an interview with the drug-addict daughter who just appears to have given up the will to look after her kids. (Possibly because she knows her mother will do it?).

Drug deaths in Stockton have doubled in a decade and nationally they are substantially higher in the more deprived areas.

The grandmother attends a support group for grandparents who look after their grandkids because their children are drug addicts…. And we can see clearly how the stress she’s under is reducing her own life expectancy.

Finally, the documentary visits a middle-aged woman suffering from depression and anxiety who has made multiple (unsuccessful) suicide attempts. Suicides are twice as common in the poorest areas.

One of the problems here is that mental health services have been cut. There’s nowhere for her to go. If it were not for a voluntary support group, she’d probably be another early death statistic.

So how do we tackle low life expectancy? 

This is a very short section towards the end of the documentary which visits a school in a deprived area. The headmistress of the Carmel Education Trust thinks she can turn things around. She doesn’t believe the poor-health life path of those in poverty is fixed.

She believes that therapies help kids to better at school, and if they do better at school, they get better jobs, and that seems to be the key to a healthier life…

NB the documentary doesn’t actually go into any depth about what these ‘therapies’ are. This section is very much tagged on the end of the gawp-fest.

Final critical appraisal of the documentary

What I like about the documentary is that it’s rooted in what you might call micro-statistics. It ‘digs down’ into the sub-regional variations in life expectancy in Teeside. It even distinguishes between life expectancy and health life expectancy.

If You rely on the Office for National Statistics own accessible data on life expectancy, you don’t even see these variations!

However, the documentary spends too much time ‘gawping’ at the poor sick poor people rather than analysing the deeper structural causes of poverty related health problems.

There’s no real mention of the longer term historical downturn in the North East of the U.K. which highlights the high levels of unemployment, for example.

I’m also not entirely convinced by the (too brief) look at the solutions on offer. Therapeutic interventions in schools was offered up as the solution. Relying on the education sector yet again to sort out this social mess of extreme in equality in life expectancy just isn’t practical.

Having said that, if the mission of the documentary was to alter us to the extent of the problem and shock us, I think it did a reasonable job overall.

Possibly most shocking of all is that men in the poorest boroughs have a life expectancy of just 64: the average man doesn’t even make it to retirement age. And this isn’t the only region in the UK where this happens. In the very poorest regions, men work hard, pay their National Insurance, and get nothing back for it. There’s something not quite right about that!

Ultimately, I agree with the message the documentary puts out, even if it gets somewhat lost in the emotionalism of the three case studies: the reasons people die young are complex, but the most common reason is poverty – low income limits your choices. There is also no reason why anyone should be getting a chronic illness and dying in their 40s. All of the likely soon-to-be deaths in the documentary are entirely preventable!

Relevance to A-level sociology

This documentary offers some us some qualitative insights into the causes, but mainly the consequences of low life expectancy in the poorest regions of the United Kingdom and so should be relevant to the ‘ life expectancy and death rates‘ aspect of the families and households module.

It’s also quite a useful reminder of how we need qualitative data to give us the human story behind the statistics.

If you want to find out more about variations in life expectancy in the UK, you might like this interactive map as a starting point.

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A Sociological Analysis of Cruise Ships

Venice is a city of 55.000 inhabitants, which is swamped on some days by more than 40, 000 cruise ship passengers, and many of the residents aren’t impressed at their transient visitors, as many of these ships dwarf the architectural marvels of the ancient city, and spew toxic fumes in their wake.

And Venice is far from the only place affected in this way – the Orkney Islands play host to over a quarter of a million visitors a year, with a population of just over 25 000.

The Cruise ship industry has grown rapidly since the 1960s as prices have come down – Americans and the Chinese are the most avid cruisers, but 2 million Brits are also predicted to go cruising in 2018.

The largest ship is Harmony of the Seas – it is a quarter of a mile long, weighs 227,000 tonnes and carries up to 6780 guests with a crew of 21, 000, and there are scores of ships sailing the oceans which have a capacity of over 3000 passengers.

What can we make of cruise ships sociologically?

As with many current trends Zygmunt Bauman seems to be the best sociologist to go to in order to make sense of their growing popularity:

Bauman argues that what distinguishes social class today is relative mobility – the global super rich have jets and suites in many parts of the world and can afford to be instantly globally mobile. At the other end of the scale are the global poor – who are ‘doomed to be local’ in Bauman’s words, and are effectively stuck in the barrios with no way out.

So where do cruise ships fit in? Basically I see them as somewhere in the middle of this – they allow the relatively well-off in the West as well as in developing countries like China to get a taste of this mobility, so maybe, just maybe, it’s not so much that cruises are a ‘good holiday’* but they allow us to tap into that unconscious desire to join the ultra-rich super-mobile global elite?

*Given that the objective truth about cruises is that, technically speaking, they’re just a bit shit, why people ‘choose’ to go on them needs some deeper level of explanation. 

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Trump’s Tax Bill: Another Neoliberal Policy.

In mid December 2017, The U.S. Senate voted through a tax-bill which will deliver a dramatic reduction in America’s corporate tax rate – from 35% to 20% – along with a reduction in inheritance tax which will allow the America’s wealthiest individuals to pass more tax-free money to their children (or other heirs). This Guardian article provides further details.

Trump Corporations.jpg

For A-level sociology students studying global development, this represents yet another example of a neoliberal policy – cutting taxes is a key aspect of the economic doctrine of neoliberalism.

The supposed rational behind the bill is to stimulate economic growth, but it is also likely to widen inequality and the bill is also predicted to add $1 trillion to the national debt

It’s also interesting to note that Donald Trump ran for president as an outsider who would stand up for the working people, but now it seems that it’s the wealthy, share-holding corporate class that’s going to benefit most from this policy.

 

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Social Mobility Highest Around London, Lowest in some Rural Areas

According to a report released today, social mobility is generally highest around London and lowest in rural areas…

How Social Mobility Varies by Local Authority in England in 2017

social mobility England 2017.png

NB – There’s a nice ‘interactive’ infographic at the link above!

London and its environs (mostly Surrey) have the highest levels of social mobility, while rural areas generally have lower levels of mobility.

Interestingly it isn’t just deprivation and wealth which predict social mobility… some wealthy areas like West Berkshire and Crawley perform badly for social mobility – in these areas, it is very difficult for children born into poor backgrounds to climb the income ladder.

Conversely, some of the most deprived areas are “hotspots”, providing good education, employment opportunities and housing for their most disadvantaged residents.
These include London boroughs with big deprived populations such as Tower Hamlets and Hackney.

The main reason for variations in social mobility highlighted by the report is the lack of available jobs, especially well-paying jobs, which is a real problem in some of the more rural areas.

It might be interesting to… (and I might play around with this later)

  • Compare this data to deprivation indices and see how far wealth holds back social mobility.
  • Compare this data to population density… Just a hunch, but surely all other things being equal, the denser the population the more (realistic) job opportunities?
  • Compare this data to educational achievement and school type… to see if schools really do make a difference at the regional level.
  • Take a sample of the lowest social mobility areas and the highest (they’d need to be similar) and just find out as much as possible about both areas to try and explain these differences….

 

 

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Rich House, Poor House – Spreading the Myth of Meritocracy

In this Channel 5 series, one family in the ‘wealthiest 10%’ of Britain swap lives for a week with a family in the ‘poorest 10% of Britain’. As I see it this programme performs an ‘ideological control function’ – spreading the myth of meritocracy.

They two families swap houses, budgets and leisure-timetables for a week – in episode two for example, the poor family, living on the rich family’s typical weekly disposable income, have to live off about £3000 per week, while the rich family, have to live off just under £200 per week, and in this episode, both families seem to be genuinely hard working and just, well, nice.

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The ‘Poor House’

The meat of the programme consists of watching the families hanging out in their respective houses, doing whatever activities the other family would normally do, and meeting their respective friends/ work colleagues, including some running reflections on how ‘nice’ it is to be rich, and what a ‘struggle’ it is to be poor.

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The ‘rich house’

Here’s how the programme performs the function of ideological control – basically it spreads the ‘myth of meritocracy‘.

  1. It misrepresents what the top 10% look like – the narration keeps talking about how the rich family is in the top 10%, they are, but their weekly disposable income of over £3K, and the fact that they own 12 restaurants and employ 60 odd people, puts them easily in the top 1%. This fact alone really annoys me – it is the extreme minority that lives like this. I worked this out using the IFS’ income calculator)
  2. The family in the top 1% are further unrepresentative in that the father genuinely worked his way up after failing school, cleaning toilets and then getting into restauranteering. This is most definitely NOT how the majority get into the top 1%, especially since social mobility has been declining in recent years.
  3. The working class father keeps saying ‘I want my children to see this and want this’ – he seems to take the experience of his week in the rich mans world as evidence that anyone can make it if you try hard enough – in fact there is LESS CHANCE TODAY HIS KIDS than he would have had to climb the career ladder.
  4. Maybe the same point as above – the working class guy has 4 kids – I wonder what the actual chances of all four kids from one working class family independently becoming millionaires actually are? It’s probably lottery odds.
  5. The ‘luck’ word is mentioned once, apparently it’s all about hard work. NO – this view is just plain wrong, Malcome Gladwell convinced me of this in his book ‘Outliers’

Personally I think this series (if it carries on this vein) is lazy and appalling television – it wouldn’t take much to add in some depth analysis, have some commentary or stats overlying how likely it is for someone to go from working class to millionnaire, for example.

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The Poor Family – now none the wiser as to how they’ve been shafted by 30 years of neoliberalism

There’s also absolutely no mention of the sheer injustice of the fact that both sets of parents are doing similar amounts of ‘work’ but the rewards are so incredibly different, and no mention of how good it is that we’ve got social housing so at least the poor family have a decent house.

rich family.jpg
The rich family – nice enough, but so few these days climb the class ladder. 

In short, my intense dislike of this show stems from the misleading portrayal of the richest 1% as representing the richest 10% and from its total lack of analysis of the actual chances of social mobility occurring.

NB – It was also quite dull viewing. If you think it sounds a little like Wife Swap, it’s much less entertaining as it’s the whole family doing the swapping, so there’s much less conflict.

 

 

 

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Is There a Crisis in Youth Mental Ill Health?

  • Girls are more than twice as likely to report mental health problems as boys
  • Poor girls are nearly twice as likely to report mental health problems than rich girls.

One in four teenage girls believe they are suffering from depression, according to a major study by University College London the children’s charity the National Children’s Bureau (NCB).

The research which tracked more than 10,000 teenagers found widespread emotional problems among today’s youth, with misery, loneliness and self-hate rife.

24 per cent of 14-year-old girls and 9% of 17-year-old boys reported high levels of depressive symptoms compared to only 9% of boys.

However, when parents were asked about their perceptions of mental-health problems in their children, only 9% of parents reported that their 14 year old girls had any mental health issue, compared to 12% of boys. (Possibly because boys manifest in more overt ways, or because boys are simply under-reporting)

Anna Feuchtwang, NCB chief executive said: “This study of thousands of children gives us the most compelling evidence available about the extent of mental ill health among children in the UK, and Lead author of the study Dr Praveetha Patalay said the mental health difficulties faced by girls had reached “worryingly high” proportions.

Ms Feuchtwang said: “Worryingly there is evidence that parents may be underestimating their daughters’ mental health needs.

Dr Marc Bush, chief policy adviser at the charity YoungMinds, said: “We know that teenage girls face a huge range of pressures, including stress at school, body image issues, bullying and the pressure created by social media.

The above data is based on more than 10,000 children born in 2000/01 who are taking part in the Millennium Cohort Study.

Parents were questioned about their children’s mental health when their youngsters were aged three, five, seven, 11 and 14. When the participants were 14, the children were themselves asked questions about mental health difficulties.

The research showed that girls and boys had similar levels of mental ill-health throughout childhood, but stark differences were seen between gender by adolescence, when problems became more prevalent in girls.

Variations by class and ethnicity 

Among 14-year-old girls, those from mixed race (28.6%) and white (25.2%) backgrounds were most likely to be depressed, with those from black African (9.7%) and Bangladeshi (15.4%) families the least likely to suffer from it.

Girls that age from the second lowest fifth of the population, based on family income, were most likely to be depressed (29.4%), while those from the highest quintile were the least likely (19.8%).

The research also showed that children from richer families were less likely to report depression compared to poorer peers.

Links to Sociology 

What you make of this data very much depends on how much you trust it – if you take it at face value, then it seems that poor white girls are suffering a real crisis in mental health, which suggests we need urgent research into why this is… and possibly some extra cash to help deal with it.

Again, if you accept the data, possibly the most interesting question here is why do black African girls have such low rates of depression compared to white girls?

Of course you also need to be skeptical about this data – it’s possible that boys are under-reporting, given the whole ‘masculinity thing’.

On the question of what we do about all of this, many of the articles point to guess what sector….. the education sector to sort out the differences. So once again, it’s down to schools to sort out the mess caused by living in a frantic post-modern society, on top of, oh yeah, educating!

Finally, there’s an obvious critical link to Toxic Childhood – this shows you that the elements of toxic childhood are not evenly distributed – poor white girls get it much worse than rich white girls, African British girls, and boys.

Sources and a note on media bias 

You might want to read through the two articles below – note how the stats on class and ethnicity feature much more prominently in the left wing Guardian and yet how the right wing Telegraph doesn’t even mention ethnicity and drops in one sentence about class at the the end of the article without mentioning the stats. 

Telegraph Article

Guardian Article

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ExxonMobil – The Worst Corporation in the World?

ExxonMobil is the world’s largest oil and gas corporation – its main ‘business lines’ involve producing a range of fuels for cars, planes and ships, as well the technologies surrounding the extraction and refining of these fuels.

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ExxonMobil: Key Facts and Stats

  • Registered in Texas, USA.
  • Assets (2016) – $330 billion
  • Revenue (2016) – $218 billion
  • 75 000 employees globally
  • The CEO from 2006 to 2016 was Rex Tillerson, until Donald Trump appointed him as the 69th Secretary of State, a position he formally took up in February 2017. Tillerson has a relatively modest Total Net Wealth of $245 million (although I simply CANNOT believe that’s an accurate figure.)
Oil and Money
Rex Tillerson: Putting Oil and Money First?

Criticisms of ExxonMobil

This video outlines a fairly basic criticism of Exxon’s dealings with the ruling family of Equatorial Guinea – which is the richest country in Africa in terms of GDP, but not in terms of social development, because although Exxon pump a lot of oil out of the country, pretty much all of the money from that oil revenue gets pumped into the hands of the ruling family. They’re so rich, that the Vice President (the president’s son) owns a $30 million dollar mansion in Malibu.

I posted about Equatorial Guinnea a while back – this post covers some of the figures surrounding oil extraction.

Teodorin Obiang
Teodorin Obiang – Total Net Wealth of $115 million

NB – Obiang is going on trial in Europe to investigate the obvious corruption that has led to his vast wealth, thanks to the French courts, no thanks to the TNC Exxon.

A second criticism of Exxon is that it could have effectively prevented climate change: its own internal memos show that the company proved the link between burning fossil fuels and global warming in the late 1970s, but then buried the research and instead funded climate change sceptics to spread doubt about man-made climate change, and cynically invested in areas such as the arctic which it thought global warming would open up for further oil extraction.

According to this Guardian article, Bill Mckibben argues that if only Exxon had been honest, we could have taken much early steps to avert global warming.

Further Sources of criticisms of Exxon…

http://www.cracked.com/article_24303_5-leaked-memos-that-prove-famous-companies-are-evil-as-hell.html

Related Posts/ how to use this material

The most obvious use of the above information is to use it to evaluate the role of Transnational Corporations in Development, summaries of which are provided here:

 

 

 

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The End of Development?

20170923_100207A summary of The End of Development: A Global History of Poverty and Prosperity, by Andrew Brooks (2017)

This blog post covers Part 1: Making the Modern World

Chapter 1: environmental determinism and early human history

The argument in this chapter is that nature (as in the natural environment) does not determine human society and culture, rather it is more accurate to talk of humans shaping nature, especially since the emergence of agricultural societies 12000 years ago.

From between 12-8000 years ago, agricultural societies emerged independently in 11 distinct places, and in each region, these societies domesticated crops and animals, thus adapting to and changing local environments in different ways.

Agricultural societies eventually came to dominate hunter gather societies because they are more resistant to environmental shocks, given their greater capacity to store food to see them through famine periods.

Early agricultural societies also allowed for the development of a specialized division of labour, and were organised along feudal lines, with a tiered hierarchy of ruling classes taking tribute from those working the land. Europe in the 15th century was only one such system among many historical antecedants.

Brooks rounds this chapter off by reminding us that Europe did not colonize the rest of the world because of some kind of manifest destiny based on a unique set of environmental and cultural advantages, there were plenty of other cultures existing around the world in the 15th century that had similar features to the European feudal system.

What Europe did have was an emerging capitalist system, it is this that sets it apart and explains its rise to globalpower from the 15th century onwards.

Chapter 2: colonizing the world

This chapter outlines a brief history of colonialism, starting with the early colonial projects of Spain and Portugal in the Americas, which provided the silver and gold which kick started the global capitalist economy.

Brooks goes on to outline European colonial expansion across the globe more generally, arguing that European big business, governments and religion all worked together to dominate The Americas, Asia and Africa – often exploiting existing power structures to establish rule: profit, politics, piety and patriarchy all played a role in reshaping the colonial world from 1992 to 1945.

Brooks breaks down the history of colonialism something like this:

1500 – 1650 – Spanish and Portuguese colonialism – which involved the extraction of gold and silver, which was used to finance wars against Islam and other European nations. Spain also borrowed heavily from Holland on the basis of expected future returns from its mines in Latin America.  This led to the establishment of financial centers in Holland, and increasing wealth. Span eventually went into decline as its wars were unsuccessful and its colonial returns decreased

1650 – 1900 – Dutch and British colonialism – A newly rich Holland and Britain took over as the main colonial powers – state building was essential to this – a combination of political power and the granting of monopolies to the Dutch and British East India companies (for example) led to the increasing dominance of these two powers.

Brooks also outlines how slavery and the industrial revolution were crucial to the rise of these two powers, and includes a section on the famine in India to illustrate how brutal their colonial projects were.

It’s also important to realise that increasing inequality was an important aspect of Colonialism – obviously between Europe and poorer parts of the world, but there were also some colonies which were more prosperous (such as Australia) and also, within the the mother countries and colonies, this period of history led to increasing inequality.

The chapter rounds of by pointing out that from 1900, the base of world power is already starting to shift from European centers to America.

Chapter Three: American Colonialism 

This chapter starts with the ‘rise and fall of Detroit‘ which illustrates how industrial capitalism led to huge economic growth in America from the late 19th century to the 1960s, only to decline once industrial production moved abroad.

Brooks now argues that, following US Independence in 1776, American capitalists essentially focused on colonising the homeland rather than overseas territories, as there was so much land and so many resources within America – typically treating native Americans as non-people, who ended up in reservations.

There was some expansion overseas during the 19th and early 20th centuries – most notably with establishment of the Panama canal, but the ideology of American isolationism prevented this from happening.

It was effectively WW1 which led America to become to the world’s global hegemon – through lending money to the Allies, it built up huge economic dominance, which only grew as Europe was thrown into turmoil during WW2, following which America rose to dominance as the country which would seek to ‘develop’ the rest of the world, which is the focus of part two of the book….. (to be updated later)