Mining Corporations Flagrantly Plunder the Global South Without Consequence
The big driver of the world economy is a plundering process where powerful corporations loot the natural resources of low-income countries.
These highly influential multinational corporations (MNCs) facilitate the expatriation of profits and natural assets from resource-rich but capital-poor countries by engaging in a wide range of morally egregious profit maximization practices. Predatory practices carried out by MNCs deprive developing countries of being able to benefit equitably from their own natural resource supply and ultimately undermine their pursuit of emancipatory economic development policies.
How do systematic underdevelopment and exploitation of developing countries and their peoples occur? Two common strategies of corporate plunder through global extractive industries are rent-seeking and wage exploitation.