Saturday, November 01, 2008

May you live in interesting times - pt. 5

The God That Failed - The 30-Year Lie of the Market Cult

"Beginning with Margaret Thatcher's election in 1979, government after government -- and party after party -- fell to the onslaught of an extremist faith: the narrow, blinkered fundamentalism of the "Chicago School." Epitomized by its patron saint, Milton Friedman, the rigid doctrine held that an unregulated market would always "correct" itself, because its workings are based on entirely rational and quantifiable principles."

Read the rest here:

No comments: