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domingo, setembro 16, 2007

The Shock Doctrine

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In her book she argues that the shock therapy prescribed by Western economists during the last 30 years could not have been imposed without political shock therapy, namely brutal repression and a suspension of democratic rights. Western countries, along with the International Monetary Fund and the World Bank, essentially exploited disasters — hyperinflation, the tsunami, the war in Iraq — to force through radical changes like privatization, deregulation and severe cuts in social spending. These policies, imposed by foreign and American disciples of the laissez-faire economist Milton Friedman, she maintains, caused grinding poverty and hardship for millions while often permitting multinationals to buy up a country’s most valuable assets for going-out-of-business prices.

Even the shock of 9/11, she said in an interview, was “harnessed by leaders to end the discussion of global justice.”

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