Britain, the Third World and the Debt Crisis

Roy Hattersley

Chapter 15 in Economic Priorities for a Labour Government, 1987, pp 186-198 from Palgrave Macmillan

Abstract: Abstract For a while, Band Aid and Sport Aid pushed the subject of the Third World to the top of the political agenda. Millions of men and women were inspired into working and contributing towards help for the starving people of the world. Unfortunately the great wave of moral indignation washed by the major Western governments. For all the benefits that the several Geldof initiatives provided, when set against the whole problem of global hunger they will only have a marginal effect. They should have stirred the world’s conscience, set the pace and begun a new era of help and assistance. But the reality is quite the opposite. In 1985 alone the net transfer of resources from the Third to the Developed World was £22 billion. The truth is that the poorest parts of the world are still subsidising the richest.

Keywords: Commercial Bank; Commodity Price; Debt Crisis; Moral Indignation; Debt Repayment (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-18608-2_15

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