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G8: an unnecessary feature of globalization?

Published 04th July 2010 - 1 comments - 2283 views -


Theoratically, G8 should deal with today's problems, the issues countries face and encounter. But during their last summit in Toronto, Canada they paid more attention on not working, than finding solutions to our most important and threatening issues. 

The saddest thing about the summit is not the impotence of the participants, but the amount of money that was spent on the creation of this event.

According to goverment data, the canadian organisors spent $1bn on this event. For two days. That means, $347222 were spent in a minute on nothing. I dare to say nothing, because no solid ideas were made on how to fight povery, climate change, etc.



I hereby list some things, that you can buy from this money if you are fast enough to do it in 60 seconds.

1134 first aid trauma kit for 50 person.

2117 tons of corn (data from the Hungarian Stock Exchange, money exchange rates from

1400000 board feet of framing lumber (


Mindblowing, huh? 


You might think, that a summit of this big importance, would worth its price. In fact it doesn't. Jeffrey Sachs, the author of the article that was my source for this blogpost, says "First, the G8 as a group should be brought to an end. The G20, which includes developing countries as well as rich countries, should take over."


I couldn't agree more with you, Mr.Sachs!


(More on this topic, and the source of this blogpost to be found here: as Jeffrey Sachs' analysis the G20 summit.)

(I hope my calculations are correct, if you somehow find any problem with them, don't hesitate to share it with me!)

Category: Politics | Tags:


  • Luan Galani on 05th July 2010:

    Hi Oszkar,

    Interesting point. I couldn’t agree more with you and Mr. Sachs. The power landscape is different now from what it was 10 years ago. Emerging countries have to be taken into account.

    About the waste on the meeting: wow! Unbelievable…it is a shame.

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