Professor Manning Marable, widely regarded as the most feared black professor in the United States, says the neoliberal economic model being pursued by the U.S. and other developed countries is a threat to the developing world.

"Unfortunately, to protect growing foreign investment, the United States have pursued aggressive and dangerous foreign policies across the globe," said Professor Marable, who was critical of the U.S. for the "crusade" it has been leading since the September 11, 2001 terrorist attacks.

Professor Marable made the comments at the annual Michael Manley Lecture held on Sunday's 82nd anniversary of the former Jamaican Prime Minister's birth at the Life of Jamaica Auditorium in New Kingston.

He said there needs to be a rethinking of what constitutes development, and called for an end to global racialism and neoliberalism, which he says are deliberately being carried out by the handful of financially rich at the expense of the poor.

Neoliberalism is a set of economic policies that have become widespread during the past 25 years. Neoliberalism manifests itself in the rich growing richer and the poor growing poorer.

Wealth distribution

He pointed to a recent United Nations report which shows the richest one per cent of adults in the world owning 40 per cent of the planet's wealth, according to the largest study yet of wealth distribution.

Europe, the U.S. and some Asia Pacific nations account for most of the extremely wealthy. More than a third live in the U.S. Japan accounts for 27 per cent of the total, the U.K. for six per cent and France, five per cent.

In his lengthy but well-received presentation, Professor Marable said if Michael Manley were alive, because of his belief in democratic socialism, he would be criticising many First-World policies and decisions, especially what he deemed the U.S.'s fabricated war on terror.

- D.L.