Speaker 1: Welcomed it could happen here a podcast about things falling apart,
Speaker 1: how they came to be that way. I'm your host,
Speaker 1: Christopher Wong, and today we're to impart three of our
Speaker 1: series of Neoliberalism. We're gonna start today with one of
Speaker 1: the most famous episodes in his history of neoliberalism, September eleventh,
Speaker 1: three coup against Salvador Allende. Allende was a democratic socialist
Speaker 1: of a type that has broadly ceased to exist today.
Speaker 1: A committed Marxist to believe that class of society could
Speaker 1: be created by means of electoral democracy, he embarked on
Speaker 1: a campaign drastically more radical than any modern socialist politician
Speaker 1: has done, more than dream of mass nationalizations, in an
Speaker 1: attempt to develop a technical system that would allow the
Speaker 1: government to democratically plan as much of the economy as
Speaker 1: humanly possible. In part, his hand was forced by Chile's workers,
Speaker 1: who had embarked on their own unsancitioned campaign of takeovers
Speaker 1: of minds and factories, which I Andy disapproved of, and
Speaker 1: now ought to bring under the national planning scheme. To
Speaker 1: do this, he brought in British cybernetics theorists Stanford Beer,
Speaker 1: who embarked on an operation called Project Cybersen to collect
Speaker 1: and coordinate information between various factories and allow democratic planning
Speaker 1: at the ground level in a way that would allow
Speaker 1: instantaneous reaction to crises and immediate changes in production levels
Speaker 1: and conditions inside the factories themselves to deal with them.
Speaker 1: All End, for all of Bark's credentials, was fiercely critical
Speaker 1: of the bureaucratization of the USSR, and in particular in
Speaker 1: the economic sphere, the way its planning systems were essentially
Speaker 1: unable to react to local changes quickly in a context
Speaker 1: where plans were only created every five years. Cybersen would
Speaker 1: solve these problems by workers participation at the factory level
Speaker 1: and constant updated data flows to the planning office. As
Speaker 1: the project went on, Beer became progressively more radical. Strike
Speaker 1: by right wing truck workers backed by capitalists in the
Speaker 1: CIA in nine two threatened to grind the nation to
Speaker 1: a halt. In response, workers formed enormous coodonas industrialities or
Speaker 1: industrial belts to help self organized production and bypass the
Speaker 1: striking right wing workers. In coordination with the Andia's government
Speaker 1: and a new cybers In control room, they were able
Speaker 1: to outmaneuver the strike and maintain production and distribution and
Speaker 1: nearly full capacity by tracking where goods were going and
Speaker 1: where they needed to go along what roots. Beer rapidly
Speaker 1: became convinced that quote, the basic answer of cybermntics to
Speaker 1: the question of how the system should be organized is
Speaker 1: that it ought to organize itself, in essence, that cybersen
Speaker 1: should be used to eliminate the bureaucracy in the state
Speaker 1: entirely and allow workers to directly organize production themselves. Now,
Speaker 1: cyberson in theory is what the near leribals claim, at
Speaker 1: least in public, to want, is an anti bureaucratic system
Speaker 1: that uses the centralized control over the means of production
Speaker 1: to combat totalitarianism and ensure that the state respects individual
Speaker 1: rights and liberties. In fact, as if Vengie Monro's put it,
Speaker 1: Pierre and hiek knew each other. As Beer noted in
Speaker 1: his diary, Hayek even complimented him on his vision for
Speaker 1: the cybernetic factory after Beer presented at a conference in
Speaker 1: the nineteen sixty in Illinois. So, naturally, when the system
Speaker 1: was actually implemented, at least in part in Chile, the
Speaker 1: new liberal position was that every single person involved in
Speaker 1: the entire economic exparment needed to be killed. Chile was
Speaker 1: put under economic blockade by the U S and multinational
Speaker 1: corporations with full and neleable support, an ironic position given
Speaker 1: Milton Friedman Hyak and Rope case, pure and absolute opposition
Speaker 1: to economic blockades of South Africa Rhodesia to its eternal shame.
Speaker 1: The a f L C i O S American Institute
Speaker 1: for Free Labor Development provided training and funds to the
Speaker 1: right wing unions that opposed the leftist government and others
Speaker 1: across Latin America. In Chile, working directly with the CIA,
Speaker 1: the a f L C i OS organizations to train
Speaker 1: the right wing truckers. Here's nineteen seventy two strike we've
Speaker 1: already discussed, and he was nineteen seventy three strike would
Speaker 1: pave the way for Pinochet's coup. In many cases, organized labor,
Speaker 1: especially in the US but also in places like Italy,
Speaker 1: spent the seventies battling their own left flank in defensive capital.
Speaker 1: The reward for their services was capital turning around and
Speaker 1: dutting them like a fish. In the eighties, two fought
Speaker 1: a series of battles with his left flank. Disarming the
Speaker 1: mass workers assemblies that had formed in nineteen seventy two
Speaker 1: could have saved him from the coup. The results was
Speaker 1: the other nine eleven, on which day in nineteen seventy three,
Speaker 1: the military overthrew Allende and a coup, and Allende shot
Speaker 1: himself in the presidential palace. The man who would emerge
Speaker 1: on the top of the power struggle in the military
Speaker 1: at the end of the coup was one Augusto Pinochet. Now.
Speaker 1: Pinochet from the beginning had the support of Chile's own
Speaker 1: domestic neoliberals, of which they were a fairly large number.
Speaker 1: Upon taking power, he carried out what would become the
Speaker 1: standard neoliberal program, returning nationalized industries to the capitalists, eliminating
Speaker 1: price controls, and increasing interest rates. But full scale neoliberalism
Speaker 1: didn't come immediately. Inflation, which Pinochet had nominally in large
Speaker 1: part taken power to control, continued debated, and in nineteen
Speaker 1: seventy four Milton Friedman arrived in Chile to argue for
Speaker 1: neoliberal shock therapy. But it wasn't until Pinochet's desperation from
Speaker 1: money drove him to the I m F that he
Speaker 1: would fully embrace neoliberalism. Most of the world had refused
Speaker 1: to do business with new dictatorial regime, with the exception
Speaker 1: of the U S and oddly enough Mao's China, which
Speaker 1: poured money into the regime and Pinochet's personal pockets. But
Speaker 1: that money was insufficient, and the i m F was
Speaker 1: the only remaining body who would actually lend money to
Speaker 1: Pinochet without any requirements on improving Chile's at this point
Speaker 1: a bismo human rights record. Much of the full neoliberal
Speaker 1: turn that hit Chile in nineteen seventy five came from
Speaker 1: demands from the i m F itself, who Demandedconian measures
Speaker 1: to control inflation. Here, Pinochet was aided by the supporter
Speaker 1: of the neoliberals, whose legitimacy and academic standing allowed them
Speaker 1: to negotiate and secure favor from the I m F,
Speaker 1: which they had already begun to infiltrate. At this point,
Speaker 1: the infamous Chicago Boys, economist trains at the University of
Speaker 1: Chicago by Milton Friedman, were put in charge of the economy.
Speaker 1: University of Chicago trained economists. Sergio di Castro, known as
Speaker 1: the Pinochet of the Economy, was put in charge of
Speaker 1: the ministry of economics. The Castro privatized an enormous portion
Speaker 1: of the remaining profitable state industries, eliminated tariffs and implemented
Speaker 1: free trade policies, deregulated the finance sector, and eliminated any
Speaker 1: remaining price controls. Chicago Boys would go on to do
Speaker 1: things like privatizing the entire dele and pension system with
Speaker 1: the exception of the military, which is a good education
Speaker 1: of any as to what the regime thought the actual
Speaker 1: effects of privatization would be. In nineteen Pinochet declared something
Speaker 1: called the Seven Modernizations, with quote reforms in labor, education, health,
Speaker 1: regional decentralization, agriculture, and justice policy. The goal of these
Speaker 1: reforms was to introduce the market into literally every aspect
Speaker 1: of society. Now. In episode one, I very briefly mentioned
Speaker 1: the Virginia School as one of the major schools of deliberalism.
Speaker 1: The Virginia School the people behind public choice theory. Their
Speaker 1: thing is essentially taking the absolutely absurd set of beliefs
Speaker 1: Chicago School holds about people humans are all knowing, rational,
Speaker 1: calculating gods, optimizing their behavior to get the most of
Speaker 1: every single interaction, to maximize the utility, and then applying
Speaker 1: it to political science and then literally every other field.
Speaker 1: If you've ever heard someone say there's no rational reason
Speaker 1: to vote, because if you're a rational, self interested person,
Speaker 1: the cost of voting outweighs that benefit because your vote
Speaker 1: only matters if a deciding one. Therefore, it's against your
Speaker 1: interest to vote. That's the Virginia School and their public
Speaker 1: choice theory bullshit at work. Pinochet's Seven Modernizations was an
Speaker 1: application of Virginia School doctrine to the entire Chilean state
Speaker 1: and as much as the society is humanly possible, with
Speaker 1: the goal of transforming it into a market I'm going
Speaker 1: to read a section from the Road to Mount Pelion
Speaker 1: describing Virginia School titan James M. Buchanan's work. Quote Ineffectual
Speaker 1: consequences in the political market place were blamed solely the
Speaker 1: fallacies of political decision making. Quote. We can summarize public
Speaker 1: choice as a theory of government failure end quote. Buchanan
Speaker 1: delivered a highly abstract paper titled limited or Untitled Democracy
Speaker 1: to the Montpellion Society in Vina del Mar in Chile,
Speaker 1: which some constructed as a critique of the host country's
Speaker 1: mobilization for action history Buchanan stated that if limited democracy
Speaker 1: was a polity predisposed to disable a political market that
Speaker 1: would otherwise promote the most efficient allocation of resources, the
Speaker 1: only meaningful task of the government would be to deprive
Speaker 1: the polity of its ability to do so. Public choice
Speaker 1: theory thus sought to limit democracy and deep politicize the
Speaker 1: state in order to enable unconstrained market forces to guide
Speaker 1: human interaction. Since the Pinochet regime was committed to using
Speaker 1: its governmental powers in precisely this manner, Buchanan's paper provided
Speaker 1: theoretical support for the regime even if it did not
Speaker 1: openly endorsed the authoritarian rule. Jucanan, of course, would spend
Speaker 1: a bunch of time doing lectures in Chile throughout pinochet icatorship,
Speaker 1: but he was not that regime's most vociferous neoliberal supporter.
Speaker 1: That award goes to Frederick Hyak. Chris Hiek, when asked
Speaker 1: about Chile, which had been to Night that blessed with
Speaker 1: his approval quote, A dicatorship can restrict itself in A
Speaker 1: dicatorship which deliberately is restricting itself can be more liberal
Speaker 1: in its politics than a democratic assembly which has due limits.
Speaker 1: Chile's eighty Constitution was drafted in part by one of
Speaker 1: Yek's friends, Chars wrote Road about Pelion Again, the Constitution
Speaker 1: was not only named after hys book The Constitution of Liberty,
Speaker 1: but also incorporated significant elements of hias thinking. Above all,
Speaker 1: the Constitution placed a strong emphasis on a neoliberal understanding
Speaker 1: of freedom. Guzman's version of freedom is intrinsically connected to
Speaker 1: private property, free enterprise, and individual rights. Individual freedom, in
Speaker 1: his interpretation, can only evolve in a radical market order.
Speaker 1: The Constitution was dedicated to guarantee such an order without
Speaker 1: constraining any economic activities. In order to protect free market
Speaker 1: conditions and individual freedoms against totalitarian attacks or democratic interventions.
Speaker 1: The Constitution stipulated a necessity of a strong central state
Speaker 1: authority to guarantee the established rule of law, and thus,
Speaker 1: above all else is hampered in the application of discretionary
Speaker 1: government power. Exempted were measures to uphold the status quo,
Speaker 1: inasmuch as Goosebon aggressively supported continuing the state of emergency,
Speaker 1: which legalized the use of whatever discretionary powers were deemed necessary.
Speaker 1: Quial opposition that Folks is a high achi in Constitution
Speaker 1: used the state to murder any one once democracy or
Speaker 1: God help them, wants to control the production their forced
Speaker 1: to serve every day. Chile is near liberal lousitions vultron
Speaker 1: by com binding the power of all four major schools
Speaker 1: of neoliberalism Chicago School and Monetary and Economic policy, Austrian
Speaker 1: School Constitutional order order, liberal reliance on the international bureaucracy
Speaker 1: and legal institutions like the i m F in order
Speaker 1: to promote a market economy, and Virginia School public choice
Speaker 1: theory running the state, you get a neoliberal, right wing
Speaker 1: military dictatorship. Now most conventional accounts of neoliberalism will move
Speaker 1: from Chile to Reagan and Thatcher and next episode will
Speaker 1: cover the neoliberal kind of revolution in the angle sphere.
Speaker 1: But focusing on purely national events gives a skewed perception
Speaker 1: of how neoliberalism actually spreads, and in order to correct that,
Speaker 1: we're going to look at Venezuela. I'm going to be
Speaker 1: drawing heavily here from the work of the legendary Venezuelan
Speaker 1: anthropologist Fernando Coren Neil in his book The Magical State,
Speaker 1: which I highly recommend as one of the best things
Speaker 1: that are written about oil and the Venezuelan state. So
Speaker 1: readers be warned. Chapter one is an absolute slog that,
Speaker 1: on the one hand, is one of the most interesting
Speaker 1: explanations of what oiler rents are have ever encountered, but
Speaker 1: also features Coreneal inventing a new tri electic and then
Speaker 1: stubbornly refusing to explain what it is or literally anything
Speaker 1: about how it works. So read the Magical State skip
Speaker 1: chapter one now the guiding principles of the new mass capitalists,
Speaker 1: democratic parties and posted statorship. Venezuela since the nineties sixties
Speaker 1: had been developing sovereignty by economic independence. The keystone of
Speaker 1: this project was an attempt to use the power of
Speaker 1: the state in new oil rents to develop an automotive industry.
Speaker 1: The project has sort of stalled out from its origins
Speaker 1: in the sixties until the rise of the G seventy
Speaker 1: seven Opeque Alliance in nineteen nineteen seventy four that we
Speaker 1: discussed last episode. In nineteen seventy five, Venezuela's Assembly passed
Speaker 1: a law that granted the president's special powers to speed
Speaker 1: up the developments of the Auto Industry CORP. The Auto
Speaker 1: Industry in Venezuela Corinial described it thus quote, The central
Speaker 1: goal was to have the vehicle's value, including the drive train,
Speaker 1: produced locally. Nive major components would be produced by enterprises
Speaker 1: having at LEAs fifty of their capital from local private sources.
Speaker 1: Existing foreign companies would have to become mixed or national
Speaker 1: firms in accord within day impact regulations if they wanted
Speaker 1: to benefit from the common market. Now, this plan is
Speaker 1: what's called industrial import substitution. Developing countries would attempt to
Speaker 1: develop industries, in this case, auto manufacturers inside of a
Speaker 1: country to produce cars for internal consumption instead of importing
Speaker 1: them from other countries. The other key of this plan
Speaker 1: is Danda Impact, an association of Bolivia, Columbia, Ecuador, Peru
Speaker 1: and Chile that was collaborating to develop a regional industrial economy.
Speaker 1: That we use local resources to build a local industrial
Speaker 1: economy producing industrial goods made entirely inside of the countries
Speaker 1: themselves from their resources. Now, Venezuela joins the pact in
Speaker 1: nineteen seventy three and Pinochet notably leaves in ninety seven.
Speaker 1: The key sticking points in this joint and day Impact
Speaker 1: Venezuela attempt to build an auto industry was that Venezuela
Speaker 1: needed technology held by multinational corporations in order to act
Speaker 1: produced the vehicles. Multinational car companies were willing to go
Speaker 1: ahead with the project to build cars in Venezuela in
Speaker 1: the short term because they were hurting from the oil shock,
Speaker 1: and thus we're willing to help national plans develop cars
Speaker 1: as long as they could use the parts to build
Speaker 1: their own cars with parts sourced from around the world.
Speaker 1: And this is where the neoliberal defensive intellectual property rights
Speaker 1: becomes extremely important, because the companies who held the patents
Speaker 1: for the drive trains essentially had a technological strangleholder for
Speaker 1: car developments. Now, Venezuela conducted an extensive bidding process for
Speaker 1: companies to make cars in Venezuela, but the car companies
Speaker 1: essentially sabotaged it by submitting designs that failed specs. The
Speaker 1: result was a kind of political war inside Venezuela and
Speaker 1: particularly inside the Venezuela and ruling class, between national developments
Speaker 1: and international profits. The Venezuelan developmentalists needed a breakthrough. What
Speaker 1: they needed, and that's was new international economic order and
Speaker 1: its corporate regulations, debt relief, and technology transfers. Without them,
Speaker 1: even a third world country like Venezuela flush with oil
Speaker 1: money was incapable of developing an industrial economy. But the
Speaker 1: new international economic order never came. All the G seven
Speaker 1: had to do in order to stop it was stalled
Speaker 1: the G seventy seven out until commodity power faded. The
Speaker 1: G seventy seven had to fundamentally change the structure of
Speaker 1: the economy in order to allow them to industrialize before
Speaker 1: the sort of damocles hanging over all their heads the
Speaker 1: mounting Third World debt fell and decapitated them. The G
Speaker 1: seven strategy to outlast the G seventy seven was to
Speaker 1: pull the various factions to the seventy seven apart, in
Speaker 1: particular pulling the moderate governments away from the radical wing
Speaker 1: of OPEC and the African Socialists. They attacked OPEC by
Speaker 1: using Saudi Arabia to undermine its unity and attempted to
Speaker 1: peel the so called less developed countries away from their
Speaker 1: alliance with OPEC with a promise of aid to patch
Speaker 1: up the damage dealt by increased oil prices. Neither worked
Speaker 1: incredibly well, but when combined with the US essentially shutting
Speaker 1: the U N down by refusing to let any business
Speaker 1: get done, refusing to vote for or even vetoing routine matters.
Speaker 1: The stalling worked, no new international economic order was forthcoming. Instead,
Speaker 1: the world would get neoliberalism. Neoliberalism arrived on the world
Speaker 1: stage in the form of the Vulcar Shock. In ninety nine,
Speaker 1: Jimmy Carter appointed Paul Vulcar as the Chairman of the
Speaker 1: Federal Reserve for the broad mandate to do whatever he
Speaker 1: wanted to reduce inflation. Vulcar had become a disciple of monitorism,
Speaker 1: a Freedman Night Chicago School belief about the role of
Speaker 1: the money supply in the economy, considered to be absolutely
Speaker 1: crank even by modern neoliberals. His solution, which became known
Speaker 1: as the Vulcar Shock, was to increase interest rate. This
Speaker 1: essentially blew a crater in the American economy and immediately
Speaker 1: sent it into recession. And we'll get to Vulcar at
Speaker 1: Reagan's efforts to destroy American labor in the next episode.
Speaker 1: But the damage to the Third World was even worse.
Speaker 1: G seventy seven governments had for decades taking on adjustable
Speaker 1: rate loans pecked to something called the libor rate. When
Speaker 1: they took the loans out, interest rates were virtually negative,
Speaker 1: but when the vulgar shock hit, they skyrocketed. Now, as
Speaker 1: we talked about last episode, a major part of the
Speaker 1: crisis of the seventies was enormous piles of oil money,
Speaker 1: mostly from the Gulf States, floating around that nobody could
Speaker 1: actually get returns on because of declining manufacturing profit rates.
Speaker 1: This money wound up flowing back into the American finance system.
Speaker 1: When capital controls are lifted nineteen seventy, the banks through
Speaker 1: the money at loans in the Third World. Now, some
Speaker 1: of that money had been put into industrial development that
Speaker 1: had yet to pay off. Some of the money had
Speaker 1: simply been put directly into dictators bank accounts, but the
Speaker 1: bank's essentially didn't care if the loans they were making
Speaker 1: had little to no chance of being repaid without some
Speaker 1: kind of structure reformed. Because in control of the I
Speaker 1: m F fell to an arch neo liberal name Jacquis
Speaker 1: de la Rosier. I really don't know if that's how
Speaker 1: to pronounced his name, but he is evil. So neo
Speaker 1: liberals further took control of the World Bank in nine.
Speaker 1: From the I m F and the World Bank, a
Speaker 1: secession of new liberals enshrined the key principle of the
Speaker 1: new neoliberal order, debtors must always pay back their debts.
Speaker 1: Creditors would no longer assume risk for their loans. Instead,
Speaker 1: loans would be repaid at gunpoint. This was no mere
Speaker 1: rhetorical slogan, as the G seventy seven imploded as a
Speaker 1: political body under the weight of hundreds of billions of
Speaker 1: dollars of debt now with interest. Thomas Sankara, the socialist
Speaker 1: president of Burkina Fosso, attempted to rally its remains to
Speaker 1: collectively negotiate debt relief. Sakara was promptly shot by a
Speaker 1: former ally who accused him of threatening Burkina Fossils relationship
Speaker 1: with France. With all resistance slaughtered, entire nations were reduced
Speaker 1: to debt servicing machines as tax dollars were directed from health, education,
Speaker 1: and social security programs into the coffers of international banks,
Speaker 1: which used the newly neo liberal controlled International Monetary Fund
Speaker 1: as their enforcer. The anthropologist David graeber Is write the
Speaker 1: consequence of one such IMF austerity program in debt the
Speaker 1: first five thousand years quote. For almost two years I
Speaker 1: had lived in the highlands of Madagascar. Shortly before I arrived,
Speaker 1: there had been an outbreak of malaria. It was a
Speaker 1: particularly virulent outbreak because malaria had been wiped out in
Speaker 1: Highlight Madagascar many years before, so that after a couple
Speaker 1: of generations, most people had lost their immunity. The problem
Speaker 1: was it took money to maintain those mosquito radication programs,
Speaker 1: since there had to be periodic tests to make sure
Speaker 1: mosquitoes weren't starting to breed again, and spraying campaigns if
Speaker 1: it was discovered that they were not a lot of money.
Speaker 1: But owing to IMF and post austerity programs, the government
Speaker 1: had to cut the monitoring program. Ten thousand people died.
Speaker 1: I met young mothers grieving for lost children. One might
Speaker 1: think it would be hard to make a case that
Speaker 1: the loss of ten thou human lives is really justified
Speaker 1: in order to ensure that City Bank wouldn't have to
Speaker 1: cut his losses on one irresponsible loan that wasn't particularly
Speaker 1: important to its balance sheet anyways. Following the old older
Speaker 1: liberal dream of a legal framework to ensure neoliberal market economies,
Speaker 1: the new generation of neoliberals used the I m F,
Speaker 1: World Bank and other bureaucratic institutions to act as dead
Speaker 1: enforcers and the imposed neoliberal policies from above, without anything
Speaker 1: so petty as democracy interfering with it. In fact, one
Speaker 1: of the first neoliberal structural adjustments, one of a bewildering
Speaker 1: new array of terms for I M F and forced
Speaker 1: austerity programs, was implemented by the Jamaican socialist Michael Manly
Speaker 1: in nineteen seventy seven, which in a single year wiped
Speaker 1: out every gain in education of public health that Madly
Speaker 1: had spent his first term building up. Similar faith would
Speaker 1: be fall health, education, and justice programs across the world.
Speaker 1: The death toll remains unknown. Venezuela would fall victim to
Speaker 1: a similar fate. Without the new international economic order, Venezuela's
Speaker 1: industrial policy imploded as post VOLCRA shock government debt skyrocketed
Speaker 1: in the nineteen eighties, the government began to impose ims
Speaker 1: structural adjustments. Carlos Andres Perez, the man who led the
Speaker 1: industrial pushing in the nineteen seventies, was elected a second
Speaker 1: time in nineteen eighty nine, running a campaign that I've
Speaker 1: seen euphemistically described as quote against liberalization policy. It was
Speaker 1: somewhat more extreme than that, featuring lines such as calling
Speaker 1: the I M f quote a bomb that only kills people,
Speaker 1: But Perez was negotiating with the I M F behind
Speaker 1: the scenes and imposed even harsher I m F Asteria
Speaker 1: measures upon winning the election, leading to a mass uprising
Speaker 1: in nineteen eighty nine that was suppressed in a bath
Speaker 1: of blood, with hundreds killed by the army. But even
Speaker 1: more structural adjustments were imposed after Perez was deposed for
Speaker 1: corruption nineteen, implemented ironically by the founder of the Movement
Speaker 1: towards Socialism, Teodoro Petkoff, the head of Venezuela's planning agency
Speaker 1: in nineteen ninety six. All of Venezuela's economic crisis from
Speaker 1: the nineteen eighties until now stem from the failures of
Speaker 1: nineteen seventies industrialization. Without any kind of industrial economy, even
Speaker 1: the socialists that took power in the nine on national
Speaker 1: level were reduced to shuffling oil rents around, and with
Speaker 1: the market economy still in place, the economy is simply
Speaker 1: imploded again when the loyal prices fell. This is how
Speaker 1: neoliberalism comes to most countries, not as policies implemented by
Speaker 1: anything even remotely resembling the will of the people, but
Speaker 1: enforced by the international economic system itself and the bureaucrats
Speaker 1: the I m F, the World Bank, and the World
Speaker 1: Trade Organization. It is imposed by enormous states at gunpoints,
Speaker 1: constituted by the mass looting of the population in order
Speaker 1: to pay corporate debt. Masters new liberals have effectively achieved
Speaker 1: their goal and transcendent democratic politics entirely from their purchase
Speaker 1: in the international bureaucracy. They can dictate policy to even
Speaker 1: hostile leaders. But tomorrow we'll see what happens when they
Speaker 1: take power domestically. As we would conclude our Neoliberalism series
Speaker 1: with a man rotting in Hell with Paul Bulger Ronald Reagan.
Speaker 1: It could Happen here the production of cool Zone Media.
Speaker 1: For more podcasts from cool Zone Media, visitor website cool
Speaker 1: zone media dot com, or check us out on the
Speaker 1: I Heart Radio app, Apple Podcasts, or wherever you listen
Speaker 1: to podcasts. You can find sources for It could Happen here,
Speaker 1: updated monthly at cool zone Media dot com slash sources.
Speaker 1: Thanks for listening.