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Sun Jun 30, 2013, 09:21 PM

Capitalism's "One-Track Mind" for Profits

Capitalism's "One-Track Mind" for Profits

Saturday, 29 June 2013 00:00
By Jacinda Chan, Truthout | News Analysis

In May, following a visit to President Nieto of Mexico, President Obama stopped in Costa Rica for the first time. Obama met with Costa Rican President Laura Chinchilla and attended the Central America Integration System as an observing member. His mission: to address the drug trafficking problem in Central America, which is often used as a transit route between South America and the US.

Obama asserted that Latin American governments must work towards alleviating poverty, to reduce the gang activity that facilitates drug trafficking. In his address in Costa Rica, Obama addressed the issue of development in Central America, including the improvement of infrastructure and the increase in trade and foreign investment. But he didn't say a thing about the ways in which neoliberal policies have fueled widespread poverty and unrest.

These policies have continually favored oligarchic elites: American businesses and all seven Central American countries would increase the profits of the wealthy few. All seven of these Central American countries are ruled by wealthy conservatives, including El Salvador (President Funes) and Nicaragua (President Ortega), who nonetheless rely on wealthy conservatives for electoral votes.

Without proper institutions to regulate where profits from trade and foreign investment go, elite oligarchies will stay in power and increase profits from foreign investments and trade while neglecting the poor and increasing poverty. Without a significant redirection of resources toward impoverished communities, increased trade and foreign investment are unlikely to reduce gang violence and drug trafficking. ..................(more)

The complete piece is at: http://truth-out.org/news/item/17230-more-neoliberal-profit-driven-policies-proposed-during-obamas-trip-to-costa-rica

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