Monday, March 18, 2013

IMF's four steps to damnation

Step One is privatisation.
Step Two is capital market liberalisation.
Step Three: market-based pricing - a fancy term for raising prices on food, water and cooking gas.

Step Four: free trade. This is free trade by the rules of the World Trade Organisation and the World Bank, which Stiglitz likens to the Opium Wars. In the Opium Wars, the West used military blockades. Today, the World Bank can order a financial blockade, which is just as effective and sometimes just as deadly.

IMF's four steps to damnation | Business | The Observer:

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