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by f00_
2887 days ago
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first thing that came to mind was how anti-communism played out in vietnam, chicago boys of chile, and the contras in nicaragua you could also argue the underdevelopment of the third world by washington consensus (free market) policies oh and banking/finance deregulation (pre/post-glass-stegall) of the great depression, s&l crisis, and the most recent financial crisis i really don't know how to feel about milton friedman, i like the negative income tax and he support georgism. he's really a liberal, but such a huge spokes person for the seemingly detrimental policies enacted after the collapse of keynesianism in the 70s https://www.youtube.com/watch?v=kOeWoSFIEbI |
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What does this have to do with the Chicago school or libertarianism?
> you could also argue the underdevelopment of the third world by washington consensus (free market) policies
I have no idea where you got this from. The evidence indicates the complete opposite. Free markets and free trade are a boon to developing countries.
China's economic liberalization reforms (agricultural decollectivization, privatization of industry, elimination of price controls, protectionist policies, and regulations) lifted millions out of abject poverty. India's economic liberalization reforms (making the economy more market-oriented, expanding the role of private investment, reducing import tariffs, deregulation of markets, reduction of taxes, and greater foreign investment) similarly led to a vast reduction in poverty and extraordinary economic growth, particularly in sectors opened to competition.
> the seemingly detrimental policies enacted after the collapse of keynesianism in the 70s
Which policies are you referring to, and why do you think they were detrimental?
Regarding the Great Depression, I suggest you read what Friedman had to say about it.