This is from the Financial Times:
Think about that for a moment.
Here is a major consulting firm planning ethnic cleansing on behalf of a client.
I am aware that BCG has pulled back from this work and claims it has remorse about doing it, or at least about being found out to have done it.
However, the point remains: when you lose sight of ethics, and only the dollar signs remain, this is what happens. You assist in plans for ethnic cleansing in pursuit of your own gain.
And if you want to know why I condemn neoliberal thinking, this is it. It is economics without value. Some might say that the Boston Consulting Group are good at that.
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Might this be another example of self-centred tunnel vision which excludes any feeling or thought on consequences for others and/or the natural world?
Might our current government have much the same.tunnel vision concerning ideology and power?
“Tunnel vision can and does kill realities of life.” (From Ami Vitale)
At risk of falling foul of Godwin’s law, the Nazi regime did not kill millions of people without the willing participation of contractors and other businesses designing or building or running or otherwise profiting from the camps and the horrors and misery they contained. Not least IG Farben (Agfa, BASF, Bayer, Hoechst, etc) at Auschwitz and as manufacturer of Zyklon B, and Krupp and many other companies employing forced and slave labour.
Once again, more than a decade before Adam Smith published The Wealth of Nations, he wrote about morality and ethics. Before he wrote about the “invisible hand” of the profit motive leading to beneficial outcomes, he discusses the “natural selfishness and rapacity” of the rich and their vain and insatiable desires”, and (rather optimistically, I think) about an “invisible hand” by which the rich divide the necessaries of life with the poor.
Agreed
BMW used slave labour in Munich
Indeed. As did Daimler-Benz and Porsche. Even Dr Oetker. The family behind Allianz were closely involved.
Some families did very well. Some senior members were officers in the SS. But few were prosecuted at Nuremberg and afterwards, and fewer punished.
There are Western businesses quietly profiting from slave labour in Xinjiang and elsewhere. There are US businesses operating Kafkaesque ICE detention camps in the US. And so it goes on.
Agreed
Thanks
Whats that Good Old Term ‘Moral Defective’
May I wander ‘off-piste’ here?
There is a serious problem with Britain’s economic decisions being determined not by Parliament, but by “the Markets”. We are asked to believe there is nothing to be done about this. This is the view of both the Labour government and Conservative opposition. The consequences of this approach is that the effect of relatively small financial crises, we can see (Truss, Reeves) is now sufficient to create Market and political turbulence overnight, that spooks both politicians and public; and that drives Government decisions. Minor crises and financial turbulence that happens with increasing frequency, and now are not caused by a major crash, or a technical blunder by the BoE (the LDI pension fund fallout); but by trivia – a tearful Chancellor in the House of Commons. In short, we have been reduced to this level of embarrassment in British monetary policy.
The problem is, it need not be this way; and the fact that “Markets” have this effect, so suddenly, and for trivial reasons, is because of the deliberate choices made by Conservative and Labour governments. They CHOOSE to make Britain as much a prisoner of the “Markets” as they can. Why do I say this?
I have crawled through some of the stuff spewed out by the OBR. It isn’t even that hard to find. Here is one reason why we are increasingly dictated by “Markets”: this quote is from the OBR schedule headed ‘Potential vulnerabilities from a rising stock of foreign-held debt’ –
“Foreign privately owned UK debt as a proportion of total debt has almost doubled to 25 per cent since 2004 and is now well above the advanced economy average of 18 per cent”.
What this tells us is that at this rate of advance Britain is calculatedly, slowly being made into a prisoner of “Markets” and foreign debt holders, without anyone noticing. This is clearly deliberate. It is a choice. Combine that with an endemic, incurable trade deficit and the economic, financial and political consequences are serious. And NOBODY in politics is even discussing it.
Worse – the OBR statement was written in 2023 (foreign holders of our debt may now be nearing 30% in 2025). What is important is the trend line – and the relentlessly increasing trend has to be deliberate. We left the EU, for this?
Much to agree with.
And why is there so much ownership of UK debt? Because we pay too much interest on it. That is what the OBR should be saying. We have made a product that is artificially attractive.
“US-backed Gaza Humanitarian Foundation” – which aimed to “relocate” Palestinians. ….”Humanitarian Foundation”?
Orwell’s 1984, should be in non-ficition, war is peace (we are fighting for peace), freedom is slavery (& please die quietly), humanitarian foundation (to ethnically cleanse you & put you somewhere else asap).
Agreed
Agreed.
What the BCG forgot to do was include a few more factors in his (in)famous ‘Matrix’ – such as ‘racism’ or ‘zionism’ and few more ‘isms’ maybe?
To be honest, Richard, I think it’s been a very long time since mainstream economics had any values other than money making. Perhaps in the brief period of true social democracy after the Second World War (which we could stretch perhaps through to the late 1960s, early 70s in the UK, although it lasted longer elsewhere – e.g. the Nordic countries), and maybe briefly between the wars (‘homes fit for hero’s’ comes to mind), with the actions and influence from social reformers and particularly using the powers they had at the municipal level (how the citizenry of the UK would benefit if we could reinstate that).
But since 1979? I think not. To paraphrase something Musk said recently, a problem of the West is there’s been too much empathy. And it seems many, many people agree. So Boston Consulting were only following that mantra.
It’s also crystal clear that “value free” thinking, policy and practice are front and centre of Trump’s US – regardless of the fact that many millions of people now have buyers remorse about electing him.
Sorry, but too late, mates. As I posted to an X forum yesterday evening, the parallels between what’s now happening in the US and what Putin’s done in Russia become daily clearer, albeit that as Trump is clearly in age related decline those around him who actually ‘do stuff’ know that they need to crack on (hence it’s an authoritarian turn on steroids).
For example, the Republican Party are simply the US equivalent of Putin’s United Russia (UR). And like UR MPs they know that as any future elections are simply going to be an exercise in sham democracy (yes, there will be midterms but only conducted under conditions that ensure MAGA Republicans win, thus retaining the Senate and House – as is exactly what happens in Russia) they don’t even have to worry about all the bad things included in the Big Ugly Bill they passed last week.
Ditto the Supreme Court. For a brief moment it looked as if Chief Justice Roberts and Amy Coney Barrett might be more interested in actual legal stuff rather than keeping Trump happy. But after “pressure” from MAGA’s they caved. And so now we have a Supreme Court exactly as in Russia: a few dissenting voices to keep the charade that the Court is “independent” going.
And ICE (Immigration and Customs Enforcement)? The US equivalent of Putin’s FSB, and a militia to boot. And the military and law enforcement? As in Russia (and all authoritarian regimes), there are always enough officers who can be relied on to “just follow orders”. And so, as the LA test run shows, combine that with value free, corrupt, government officials, and protests, while tolerated up to a point (i.e. when it’s actually no threat – as was the case Russia) will be systematically – and violently if necessary – suppressed (oh I forgot, we have that in the UK too).
And finally, what of the “tech bros” – the equivalent of the oligarch’s of the 1990s in Russia? Well, as long as they tow the line they’ll be allowed to carry on doing what they do and making money, just as long as they share some of that if Trump (and his cronies) come asking. Just as Putin did in Russia. And if they stray, or have ideas above their station? Ask Mikhail Khordorkovsky – now living in exile in London (but at least alive). Or perhaps Alexei Navalny – not so lucky. Or just this past week, Andrei Badalov, the Vice President of Transneft (the world’s largest oil pipeline company) who proved, once again, that it doesn’t pay to stand too close to an open window in Putin’s Russia (or drink tea).
Humour aside, this is serious stuff. The demise of US democracy, which had plenty of flaws, but which is going to be remembered as a paragon of virtue when compared to what the US is set to become over the next year or two: a cruel, values free, corrupt and corrupting, dictatorship that will cajole, bully, threaten and, if it doesn’t get its way, physically attack any country or entity it chooses. Just like Putin’s Russia.
And of course, it goes without saying that Russia and the US will be allies by then (NATO take note. Trumps “love in” with you at the last Summit was all show – you gullible fools). Why the f— do you think Trump speaks to Putin every two weeks.
So, Boston Consulting? Simply playing their role in doing what neoliberalism was always designed to do when it failed: deliver totalitarianism.
A great deal to agree with. Thanks.
I do genuinley doubt if this was purely driven by the profit motive.
There has been reporting that the GHF has been lacing the flour they give out with drugs meant to make Palestinians more docile.
I struggle to imagine that anyone could be involved with such an organization without beleiving in the project.
I struggle to beleive that anyone would help plan an ethnic cleansing without beleiving in ethnic cleansing.
Certainley money can sweeten the deal, but this, to me, indicates a deeper moral rot than mere ambivalence.
I have not seen that claim.
Source?
Verification?
Sorry, but I have to ask.
https://www.middleeasteye.net/news/opioid-pills-discovered-us-backed-food-aid-gaza-authorities-say
MEE reports the claims, not yet independently verified.
Thanks
Hi
My first time here, although I am an avid reader of your blog.
The Skwarkbox has the details re the lacing of flour with Oxycodol. It was published on the 2nd July.
Hope this helps
Thank you, Richard.
Please note that Netanyahu and Mitt Romney are friends from and former colleagues at BCG. It’s likely that some of their wealth is tied to the firm.
A Freedom of Information Act should be put forward by Richard’s friend Prem Sikka, asking what contracts BGG has with the government and if this relationship is in the public interest.
I used to work for Deutsche Bank and am well aware of wealth made under the Nazis, not just by Germany’s storied firms, but American and British ones. One American business family later produced two presidents. Luckily, Trump stopped the hat trick in 2016.
“ when you lose sight of ethics, and only the dollar signs remain, this is what happens.”
This is confirmed in this article, especially the first three paragraphs.
https://bylinetimes.com/2025/06/27/excessive-wealth-concentration-democracy-conference/
Thanks
Then there was McKinsey and their work with Purdue pharma to maximise the sales of oxytocin and fueling the opioid epidemic in the USA.
I’ve worked in consulting and it’s entirely possible to be ethical and principled. However there are some who are deeply unprincipled, especially when large cheques are offered.
Tony Blair Institute linked with BCG and Gaza plan:
https://www.ft.com/content/0b1bc761-c572-4b61-882a-fb4467259dcd
https://www.middleeasteye.net/news/tony-blair-institute-linked-gaza-plan-condemned-ethnic-cleansing
There will be a blog post very soon…
Richard, you have defined the paradox of Hayek in a maxim: Neoliberalism is economics without values.
And there’s this – Tony Blair’s staff took part in Gaza Riviera project. https://www.thenational.scot/news/25293165.tony-blairs-staff-took-part-gaza-riviera-project/
On here this morning, Leah…
The current state of economics and especially international economics is much as I feared in 1991 when it was clear where we were headed. Mrs T had just begun the dismantling of the NHS and other public services were being sold off. It has been so frustrating that I only read your blog to stay up to date. However, I am also very interested in the developing situation in Africa and the prospect of a unified Africa that could be the fulcrum for a major rethink as they take back control of their resources. Is this an issue you are following? Best wishes and keep up the good work!
I very much follow what is happening in Africa, and elsewhere. They havce no time left for the West, and rightly so. And don’t ask them abiut Israel if you want a polite reply.