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Risking downvotes but here I go anyway... It's interesting to compare his theory against the country where his theories were first, and arguably most purely pu
by singular 16y ago
Risking downvotes but here I go anyway...
It's interesting to compare his theory against the country where his theories were first, and arguably most purely put into practice - Pinochet-era Chile.
The measures put forward by Friedman + his acolytes resulted in huge unemployment, inflation, and many multi-nationals effectively stealing wealth away.
In order for the people to 'accept' these measures Pinochet instituted oppression, abandonment of the freedom of the press, torture, and extra-judicial killings.
I think the ideas which originate from the creator of neo-liberalism ought to be judged against the evidence of its actual implementation in real life before recommending its architect's theories on dealing with just about anything.
The laws that were passed in Chile, as with many other countries which have instituted exactly the policies you outline were widely disrespected, and that disrespect was 'dealt with' in various arguably really rather negative ways.
I am certain that corruption also remained a problem throughout.
For references and discussion of this phenomenon, see The Shock Doctrine by Naomi Klein - http://www.amazon.co.uk/dp/0141024534/ http://www.amazon.co.uk/dp/0141024534/
- anamax 16y ago> I think the ideas which originate from the creator of neo-liberalism ought to be judged against the evidence of its actual implementation in real life before recommending its architect's theories on dealing with just about anything. Fair enough. China, Cuba, the USSR....
- singular 16y ago> Fair enough. China, Cuba, the USSR.... Hardly wonderful examples of corruption-free parts of the world!! Or ought there be a sarcasm indicator in that message? :)
- anamax 16y agoI'm not referring to corruption, but suggesting that we can apply the "I think the ideas which originate from the creator of neo-liberalism ought to be judged against the evidence of its actual implementation in real life before recommending its architect's theories on dealing with just about anything." to communism/socialism. Of course, that standard is always rejected when it comes to communism/socialism.
- deleted 16y ago[deleted]
- singular 16y agoI absolutely apply the same standard to communism, socialism or any political/economic system. There are alternatives to extremes, which both communism and neoliberalism can safely be described as I think - a Keynesian approach has a great deal of evidence in the positive behind it (the new deal for example), and I am sure he has had (I know far too little to comment myself) opinions on corruption.
- galisevych 16y agoUSSR? isn't it fall apart in 1991 with rest of soviet union?
- loewenskind 16y agoThe best part was that their horrid changes caused a massive productivity drop. They had to wait several years before gaining a modest 5% growth rate (was 7% before they started meddling) at which point they wrote a book called "Miracle of Chile"!