Growing billionaire class

James Petras examines in detail how the world's quickly growing billionare class has made their fortune worldwide: privatisation, deregulation, "connexions" in government, and speculation, with speculation the largest factor. Development organisations such as the IMF and World Bank played a large part in helping transfer wealth from nations to individuals. James concludes that regions such as Latin America, China, and Russia would be better described as "surging billionaires" rather than "emerging markets," as the countries' policies are heavily influenced by the wealthy, rather than the interests of a free and open market. James notes that the increase in billionaires coincides with an increase in anti-riot measures. more