Globally, it is estimated that at least 10% of the world’s population is squatting. Many of the slums that surround cities such as Mumbai, Nairobi, Istanbul and Rio de Janeiro are largely comprised of squatters. The types of accommodation, the services, or lack of them, available to inhabitants, the type of work undertaken and the composition of the population all vary, but collectively they show that, for all the goods produced and all the money swirling around the world, capitalism remains unable to adequately meet one of the most basic of human needs. The purpose of this article is to try and examine the reasons for this.