The Economics of Genocide

In a horrific report entitled “From Economy of Occupation to Economy of Genocide” (1), UN Special Rapporteur Francesca Albanese describes how the Israel Government has funded and run its long-standing occupation of Palestine and has shifted into a new phase that is based on an “economy of genocide”. 

The report details how military operations initiated in October 2023 transformed entrenched control of illegally occupied Palestinian territory, into deliberate destruction of life and property, supported by a vast global industrial infrastructure.

Albanese presents data showing that the extensive bombing of Gaza, with 85,000 tons of ordnance, resulting in over 60 thousand deaths(2) (and counting), widespread infrastructure collapse, and hundreds of thousands of casualties, has been a multinational enterprise. 

Destruction and death on such an industrial scale has been planned and performed with the help and expertise of a  corporate-colonial complex involving multinational firms who specialise in weaponry, surveillance technology, construction machinery, financial instruments, and even academic research.

Additionally, the report highlights how global banks, asset managers, and pension funds have enabled Israel’s military actions through bond purchases and loans. Albanese also emphasizes the role of universities and research institutions in ideologically justifying occupation and supplying technological and strategic support for surveillance and warfare.

The repost concludes with a call for legal accountability under international law – for States and corporate actors alike – and urges governments to impose arms embargoes, end trade agreements and financially divest from entities linked to the genocide.

Organizations and Institutions Cited as Aiding Israeli Policies

Weapons & Defense Contractors

  • Elbit Systems
  • Lockheed Martin
  • Boeing
  • BAE Systems
  • General Dynamics
  • Israel Aerospace Industries (IAI)
  • FANUC (a Japanese group of companies that provide automation products and services such as robotics and computer numerical control wireless systems)

Technology & Surveillance Companies

  • Google / Alphabet
  • Amazon
  • Microsoft
  • IBM
  • Palantir 

Heavy Machinery Providers

  • Caterpillar
  • Volvo Group
  • Hyundai 

Financial Institutions

  • BlackRock
  • Vanguard
  • Allianz/PIMCO
  • BNP Paribas
  • Barclays
  • CitiGroup
  • JPMorgan Chase
  • Deutsche Bank
  • Bank of America
  • Wells Fargo 

Academic & Research Institutions

  • MIT
  • Technical University of Munich (TUM)
  • University of Edinburgh 

Charitable and Faith-Based Organizations

  • Jewish National Fund
  • Christian Friends of Israeli Communities
  • Dutch Christians for Israel

References

  1. From economy of occupation to economy of genocide – (A/HRC/59/23) Report of the Special Rapporteur on the situation of human rights in the Palestinian territories occupied since 1967  https://tinyurl.com/ykt5kzsn

2. OCHA: http://tiny.cc/ow4p001