“If you have always believed that everyone should play by the same rules and be judged by the same standards, that would have gotten you labeled a radical 60 years ago, a liberal 30 years ago and a racist today.“ Thomas Sowell

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[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

The shock doctrine is full of factual errors, for example the Chicago School were mostly french economists that had nothing to do with Chicago.

[–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

Interesting. It's a terrific book nonetheless. If you know of any critical analysis of it I'd love to see it for a wider perspective.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Wikipedia entry for the IMF used to be very good. Basically, the IMF was setup so that surplus countries could lend to deficit countries that were in trouble. It was to be an alternative for what was called the ‘classical remedy’ to deficits. Which meant inducing a recession to reduce consumption. But since the 1970s the IMFs purpose was subverted. The US had become the largest surplus country but remained the IMFs largest contributor. So the IMF became a means of applying the ‘classical remedy’ to deficits. And I should add that the IMF has always been run by Europeans, just with American money, so it’s subversion was a joint effort.

[–]JasonCarswell 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

It's interesting how it all gets corrupted.

For some reason microloans sprang to mind. They sound good, and can help people start up for themselves, but it's been corrupted into a problem. A micro loan lost is a hit most westerners can easily absorb. But they've got it so that all the microloan people of a region keep track of each other so they rat each other out in order never have losses which is impossible.