Maravi

(MrK) Barack Obama On Neoliberalism

Obama: U.S. in 'Serious Financial Crisis'
http://www.youtube.com/watch?v=wnUu9vQJi1c&NR=1

What irony, that this is the system the MDC in Zimbabwe thinks 'works', and that everyone agrees with them. Deregulation destroys the very markets it is intended to liberate, because there is no such thing as a free market. There have to be regulations, or unregulated free markets implode under monopoly formation, kartel formation, and now, a complete breakdown of the rule of law.

And this is not the first time. The junk bonds of the 1980s, the dotcom bubble of the 1990s, and now mortgage crisis of the 2000s.

And yet this is what the MDC wants for Zimbabwe - a wholesale handover of the state's assets to western corporations - no regulations, labour protections, environmental protection, reinvestment of capital or sharing of profits. Magically, 'the market will provide'. No more government services - you pay a private company if you can afford it or you go without. 'The markets will correct themselves'. 'The private sector will step in' and create the tens of thousands of government jobs that are going to be lost by downsizing the government. And Zimbabweans don't need to manufacture anything or grow their own food when they can import both finished goods and food at lower cost.

We are seeing what that philosophy leads to.

Blessed is the economy that does not have entire sectors missing, because they are the only ones that will weather this storm.

Labels: BARACK OBAMA, MDC, NEOLIBERALISM

posted by MrK @ 1:14 AM