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Naomi Klein On "How Milton Friedman Saved Chile "


Source : http://www.huffingtonpost.com

Ever since deregulation caused a worldwide economic meltdown in September '08 and everyone became a Keynesian again, it hasn't been easy to be a fanatical fan of the late economist Milton Friedman. So widely discredited is his brand of free-market fundamentalism that his followers have become increasingly desperate to claim ideological victories, however far-fetched.

A particularly distasteful case in point. Just two days after Chile was struck by a devastating earthquake, Wall Street Journal columnist Bret Stephens informed his readers that Milton Friedman's "spirit was surely hovering protectively over Chile" because, "thanks largely to him, the country has endured a tragedy that elsewhere would have been an apocalypse.... It's not by chance that Chileans were living in houses of brick -- and Haitians in houses of straw -- when the wolf arrived to try to blow them down."

According to Stephens, the radical free-market policies prescribed to Chilean dictator Augusto Pinochet by Milton Friedman and his infamous "Chicago Boys" are the reason Chile is a prosperous nation with "some of the world's strictest building codes."

There is one rather large problem with this theory: Chile's modern seismic building code, drafted to resist earthquakes, was adopted in 1972.

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Created by Keiros 4 weeks 5 days ago – Made popular 4 weeks 5 days ago
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