Capitalism is a competitive and complex social system, with major banks and investment companies speculating on which way the market trends will go. 'Goldman made about $400m (£251m) in 2012 from investing its clients' money in a range of "soft commodities", from wheat and maize to coffee and sugar, according to an analysis for The Independent by the World Development Movement (WDM). ..... Christine Haigh of the WDM said: "While nearly a billion people go hungry, Goldman Sachs bankers are feeding their own bonuses by betting on the price of food. Financial speculation is fuelling food price spikes and Goldman Sachs is the No 1 culprit."' (Independent, 20 January) M/s Haigh may condemn such speculation and speak in moral terms about world hunger, but capitalism is amoral and its only goal is profit. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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