Best book I've read in years
For decades, we've been baraged with the idea that the free market is a force of nature, as incontestable as the law of gravity, and that it somehow represents the natural extension of free democratic societies. We've heard this so often, we've all but ceased to question it, yet the history of unfettered free market policies fails to support empirically their proponents' idealized predictions. This is the blindfold that Naomi Klein's work seeks to lift from our eyes. Ms. Klein chronicles the repeated efforts of free market advocates to impose radical free market policies around the world and observes that, in stark contrast to the joyous choruses of freedom on the march offered by the architects of such policies, the reality has been far less promising. In every instance, 'free' market policies have been forced upon populations which did not desire them, and with the uniform and predictable consequence of making a tiny minority richer than kings, at the expense of impoverishing the majority of the population. Critics fault the quality of Ms. Klein's eocnomic analysis, which I find telling. Ms. Klein is not an economist, nor does she pretend to be. Rather, she is a journalist who is chronicling events, none of which, interesting enough, do her critics wish to discuss. I also am not an economist and I do not presume to speculate whether Milton Friedman and his disciples are as sinister as Ms. Klein suggests, but it matters little to me what their intentions may or may not have been: what does matter is that their experiments in radical free market policies have produced catastrophic human costs. It is therefore far from having reached the level of an established truism that the 'free market' represents some benevolent force of nature and thus the only sensible goal of every policy maker. Quite the opposite: the costly and bloody track record of such policies demands a serious evaluation of the theory's basic assumptions. Yet, as Ms. Klein points out, proponents of radical free market economics share with other fundamentalists a faith in their ideology which denies any admission of error. Like religious fundamentalists, they have created a logical closed loop, whereby any evidence conflicting with their world view, no matter how overwhelming, is invariably dismissed as the fault of external influences and tamperings with the idealized workings of the free market as they understand it. I find it ironic that these economists like to think of themselves as scientists describing a natural phenomenon, when the first rule of the scientist is to find hypotheses which can explain what they empirically observe, whereas the first rule of the free market economists seems to be to begin with a hypothesis, and then try to force reality to conform to it, no matter how poor a fit it may be. That Dr. Friedman and his followers are unable or unwilling to acknowledge the reality of their misguided hypotheses is regretable. If the rest of us are to have any hope of avoiding repetitions of the same mistakes and failures to which those flawed ideas have led us, it is crucial that we begin to look rather more critically at what fruit those policies have in fact born. Ms. Klein's work is an important first step in that direction.
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