THIS WEEK’S MUST READ NEWS FROM CAPX | NEW DIRECTION
22 May 2016
New Direction | The Foundation for European Reform is an international partner of CapX, a new digital service which commissions and aggregates the best news on popular capitalism from around the world.
Venezuela is descending into chaos: hyperinflation, empty shops, out-of-control violence and the collapse of basic public services. But this will not be the last time we hear of a failing socialist economy. Why do we persist in trying to make socialism work? Evolutionary psychology suggests that our modern skulls house Stone Age minds. In other words, humans are by nature envious, resentful and prone to ignoring examples of true success in the global economy.
The idea that America does not surrender sovereignty - as some Brexiteers say - shows a complete misunderstanding of how the laws, rules and standards of the modern globalised world are actually created. International interactions today require harmonised rules. If we want to trade with Europe with any sort of ease, we will have to adopt many EU determined standards anyway.
175 states have signed the Paris Accord but it will only come into force when the 55 states responsible for 55% of global emissions ratify the deal via their national parliaments. There is a danger the Accord will be enacted before the EU has ratified, as it waits for the coordination of its 28 members. And that assumes MPs from across the EU actually support the Agreement. In light of recent elections across the EU, can this be assumed?
The trial on false charges of “terrorism” and 13 year sentence for former President Mohamed Nasheed is just one example of human rights abuses in the Maldives. The UN Working Group on Arbitrary Detention has ruled Nasheed's imprisonment illegal under international law, but the Maldives government has taken no notice. The UK must increasingly apply pressure, and if that doesn't work, sanctions should be considered.
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