Profits of Doom: How Vulture Capitalism is Swallowing the World

Profits of Doom How Vulture Capitalism is Swallowing the World Vulture capitalism has seen the corporation become powerful than the state and yet its work is often done by stealth supported by political and media elites The result is privatised wars and outsour

  • Title: Profits of Doom: How Vulture Capitalism is Swallowing the World
  • Author: Antony Loewenstein
  • ISBN: 9780522858822
  • Page: 310
  • Format: Paperback
  • Vulture capitalism has seen the corporation become powerful than the state, and yet its work is often done by stealth, supported by political and media elites The result is privatised wars and outsourced detention centres, mining companies pillaging precious land in developing countries and struggling nations invaded by NGOs and the corporate dollar.Best selling jourVulture capitalism has seen the corporation become powerful than the state, and yet its work is often done by stealth, supported by political and media elites The result is privatised wars and outsourced detention centres, mining companies pillaging precious land in developing countries and struggling nations invaded by NGOs and the corporate dollar.Best selling journalist Antony Loewenstein travels to Afghanistan, Pakistan, Haiti, Papua New Guinea and across Australia to witness the reality of this largely hidden world of privatised detention centres, outsourced aid, destructive resource wars and militarized private security Who is involved and why Can it be stopped What are the alternatives in a globalised world Profits of Doom challenges the fundamentals of our unsustainable way of life and the money making imperatives driving it.

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    1 thought on “Profits of Doom: How Vulture Capitalism is Swallowing the World”

    1. *Cross-posted on literarymindedIn Profits of Doom, Antony Loewenstein investigates the effects of predatory, vulture or disaster capitalism on individuals, communities, the environment, and future prospects of entire countries. Loewenstein’s work is powerful because he goes to Afghanistan, Christmas Island, Papua New Guinea, and other places ravaged by greed, corruption, complacency, and misdirected aid. He takes us there, and he talks to people at all levels, unafraid to present us with opini [...]

    2. A condemnation of predatory capitalism, this collection of essays follows the path trodden by Naomi Klein's The Shock Doctrine: The Rise of Disaster Capitalism. Generally the analysis is perceptive and the examples apposite, although occasionally the argument overreaches, or abstracts itself from larger debates.Loewenstein opens with a scathing analysis of Australia's privatised network of onshore and offshore "detention centres" for asylum seekers. Secret and lucrative contracts with private co [...]

    3. This book takes some of the theses of the Shock Doctrine by Naomi Klein and applies them to Australia, where, as in the United States, even the prisons have been privatized, but certainly this has not improved the lives of residents. According to the author the privatization of certain sectors such as security, put almost everything in the hands of private companies and it may explain why they fight more and more wars. In the theory, which I reproduce verbatim, the author explains that the strat [...]

    4. (I received a free copy of this book from Net Galley in exchange for an honest review.)Vulture capitalism has seen the corporation become more powerful than the state, and yet its work is often done by stealth, supported by political and media elites. The result is privatised wars and outsourced detention centres. Mining companies pillaging precious land in developing countries and struggling nations are invaded by NGOs and the corporate dollar.Best-selling journalist Antony Loewenstein travels [...]

    5. This is an alarming book and the kind of investigative journalism we so rarely see in newspapers. Lowenstein travels the world uncovering “vulture capitalism” and the truth is so horrendous that I had to read one chapter at a time, taking breaks in between to read other things. While there is attempt to give advice and hope towards the end, it seems too little too late. Read this and then Postcapitalism by Paul Mason to see other ways.

    6. I essence these are a few of the books themes: Private prisons do not save money. In the USA private prisons hold the healthier and therefore cheaper inmates – the rest are sent to public system.Deficit panic is used to cut back government spending. Privatisation is usually enforced before victims of disasters can regroup and get what they really need. (Compare, Naomi Klein, The Shock Doctrine).The War on Terror was promoted as a business opportunity. Capitalism.The Shock Doctrine is used in t [...]

    7. Describes Australia's complicated relationship with Papua New Guinea as a "client state", where the client's resources are extracted for the profit of foreigners to the detriment of the actual owners. One fact that stuck with me was that of the $500 million that PNG receives in aid from Australia, 50% of that goes to the wages of Australian "consultants", and that is before the endemic corruption takes more.There is also chapters on the rise of the modern mercenary, under the acronym "PMC", and [...]

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