''transforming they way economists think about markets''
A contribution of economist Joseph Stiglitz as mentioned by the
Nobel Prize Economics Committee, October 10, 2001
I have very individualistic values as when I was young I always
believed that our democratic governmental systems would be there to
protect us and provide social justice. I was very naive and I am not
pleased to have discovered a confused world where money takes
priority over the life of people.
In our writing, we have broken down the myth that the GDP is the
measure of our social well being, we have broken down the myth that
governments work for the people, we have broken down the myth that
wealth is created through the stock market, we have broken down the
myth that detailed research is the solution to our social problems,
we have broken down the myth that enhanced productivity is the
solution to our economic growth, we have broken down the myth that
corporations work for the people, in few words we have broken down
the myth of the Chicago School of Economics: the Free Market.
There is no Free Market as this Free Market is now an hegemonic
gospel preached by the big corporations, preached by our politicians
appointed by these big corporations, preached by the richest
countries headed by the United States, preached by the richest
people, preached by the media controlled by the big corporations, a
gospel enforced with the supreme stick of the world: the United
States military force.
As I read the article "A primer on understanding conspiracies" by
James Higdon I became to think about this notion of conspiracy. As a
very individualistic man I have never got together with other people
for the sake of profiting a selfish advantage at the expense of
others. Therefore, the term "conspiracy" has never been part of my
family's language, and the first time I ever paid attention to this
term "conspiracy" was when five years ago a lawyer included this
term in a statement of claim affecting my family. And now that this
notion of conspiracy has surfaced again I am becoming more leery
about the good intentions of our rich governments to preach the
gospel of the Free Market in accordance to Nobel Economics Prize
Winner Milton Friedman, the founder of the Chicago School of
Economics.
As I reflect on the tragedies created all over the world by the
Free Market system, known also as Corporate Globalization, I am
really thinking if there is a conspiracy designed by our hegemonic
corporations and their political and governmental appointees. Let me
indulge on what Nobel Economics Prize Winner Joseph Stiglitz, former
chief economist at the World Bank, has stated on how the IMF and
World Bank use the following four step program to help out the
developing countries:
***Step One: Privatization. This is also called Briberization. It
is the selling off state's industries and the provision of business
commissions deposited in Swiss banks to silence local critics.
***Step Two: Capital Market Liberalization. With this program
cash comes in for speculation in real estate and currency, then
flees at the first whiff of trouble.
***Step Three: Market-Based Pricing. This is the program for
raising prices on food, water and cooking gas.
***Step Four: Free Trade. This program is also called the poverty
reduction strategy. This is free trade by the rules of the World
Trade Organization and World Bank, and where the enforcement of
intellectual property rights condemn people to death. Stiglitz says
this about the WTO, IMF and the World Bank: "They don't care if
people live or die."
Some references
Pertinent article published in Ensign
A primer on understanding conspiracies, by James Higdon, November
14, 2001 On Line Journal http://www.onlinejournal.com/Special_Reports/Higdon111401/higdon111401.html
The Globalizer Who Came In From the Cold, by Greg Palast The
Observer, London, October 10, 2001 http://www.gregpalast.com/detail.cfm?artid=78&row=1
Renowned U.S. Economists Denounce Corporate-Led Globalization.
Nobel Prize winner Joseph Stiglitz and internationally acclaimed
economist Paul Krugman decry undemocratic, unsound, and unethical
corporate agenda. By James L. Phelan, November 21, 2001 http://www.commondreams.org/views01/1121-03.htm
FTAA (Free Trade in the Americas) Is a Threat, Warns Nobel
Laureate, by Kintto Lucas, Published on Monday, October 29, 2001 in
the Inter Press Service http://www.commondreams.org/headlines01/1029-03.htm |