2 ms·
Well sure, finance rose uninterrupted since the end of WW2, but the 70s was when the real asset stripping began.
by jollyllama 1y ago
Well sure, finance rose uninterrupted since the end of WW2, but the 70s was when the real asset stripping began.
- sorcerer-mar 1y agohttps://en.wikipedia.org/wiki/Friedman_doctrine https://en.wikipedia.org/wiki/Friedman_doctrine Probably a coincidence
- piva00 1y agoDon't leave Hayek out of it, the whole Austrian school was a stupid experiment, Friedman packaged it in simple to understand statements so politicians like Nixon, Reagan, Thatcher could gobble it up to turn into policy and doctrine. Hayek's fears from "The Road to Serfdom" never accounted for the opposite: the tyranny arising from wealthy individuals controlling more and more of the public sphere. His fears of the tyranny of governments (completely understandable given the 1930s and 1940s) made him completely blind to non-governmental tyranny that would come from his ideas. It's just sad that 80 years later we are stuck in his and Friedman's ideas, it's outdated but since it became the gospel of neoliberalism and its tyrants we don't get the chance to update these ideas to reflect the reality lived under this doctrine, instead what we are getting is a new wave of fascism spreading around because people can feel the system is not working, they just don't know the root cause of it, and those are propping up populists who promise to fix the wrong issues, never the root cause. In another 50-100 years, Hayek and Friedman will be remembered as the foundations for the problems that triggered this wave of fascism.