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Parasites In The Body Economic: The Disasters Of Neoliberalism

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One of the best things I've read in a long time.

http://www.counterpunch.org/2015/10/05/parasites-in-the-body-economic-the-disasters-of-neoliberalism/

Michael Hudson in fine form.

The first thing the neoliberal Chicago School did when they took over Chile was to close down every economics department in the country except the one they controlled at the Catholic University. They started an assassination program of left wing professors, labor leaders and politicians, and imposed neoliberalism by gunpoint. Their idea is you cannot have anti-labor, deregulated “free markets” stripping away social protections and benefits unless you have totalitarian control. You have to censor any idea that there’s ever been an alternative, by rewriting economic history to deny the progressive tax and regulatory reforms that Smith, Mill, and other classical economists urged to free industrial capitalism from the surviving feudal privileges of landlords and predatory finance.

On the fraudulent 'Austrian School of Economics'

MH: The key to the Austrian School is their hatred of labor and socialism. It saw the danger of democratic government spreading to the Habsburg Empire, and it said, “The one thing we have to stop is democracy. Their idea of a free market was one free of democracy and of democratic government regulating and taxing wealthy rentiers. It was a short step to fighting in the streets, using murder as a “persuader” for the particular kind of “free markets” they wanted – a privatized Thatcherite deregulated kind. To the rentiers they said: “It’s either our freedom or that of labor.”

Under Thatcher the creation of a tollbooth economy, and created the opportunity to price gouge.

Won't come as a great surprise to most posters on HPC though.

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The Neo-liberal model has contradictory flaws you can't have low wages and endless debt, at some point the service costs exceed what can be supported. We are perhaps at the current limit with low wages and therefore sluggish growth.

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Under Thatcher the creation of a tollbooth economy, and created the opportunity to price gouge.

My generation (twenties) is ******ed :mellow: How did people not realise this was going to happen?

But price gouge.. :lol: Funny but so true :lol::lol:

Have we reached peak economy? Maybe also peak resources?

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Have we reached peak economy? Maybe also peak resources?

Peak economy - Yes, the way the neo-cons have been 'running it' since '79.

Peak resources? The only resource the economy is short of is customers paying with un-borrowed money.

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