Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

[...] It's not that the $128 billion in aid disbursements doesn't exist--it does. But if we broaden our view and look at it in context, we see that it is vastly outstripped by the financial resources that flow in the opposite direction. [...]

[...] in 2012, the last year of recorded data, developing countries received a little over $2 trillion, including all aid, investment and income from abroad. But more than twice that amount, some $5 trillion, flowed out of them in the same year. [...] If we look at all years since 1980, these net outflows add up to an eye-popping total of $26.5 trillion--that's how much money has been drained out of the global South over the past few decades. To get a sense of the scale of this, $26.5 trillion is roughly the GDP of the United States and Western Europe combined.

  • debt payments: $200 billion/year or $4.2 trillion since 1980
  • foreigners repatriating profits (from foreign corporations, or ownership of stocks/bonds): $500 billion/year
  • capital flight (misinvoicing and tax evasion strategies, mainly): $23.6 trillion since 1980 ($875 billion/year due to trade misinvoicing)
—p.25 One (7) by Jason Hickel 6¬†years, 6¬†months ago