Socialism

In fact, research shows that the world economy already has enough productive capacity to eliminate global poverty many times over. Indeed it is possible not only to eliminate extreme poverty, but also to eliminate deprivation at much higher thresholds. With these levels of production, we could ensure universal access to healthcare, education, modern housing, sanitation systems, electricity, clean cooking stoves, refrigeration, mobile phones, internet, computers, transport, household appliances and other necessities for decent living standards, for more than eight billion people. The fact that poverty persists at such high levels today indicates that severe dislocation is institutionalised in the world economy – and that markets have failed to meet the basic needs of much of humanity.