Global Free Market: A Perspective and Admonition
Free market principles, supported by neo-conservatism or neo-liberalism and perpetuated by a “corporatists’ crusade,” are aligned with the policies of the “Chicago School” ideologues, the World Trade Organization and the International Monetary Fund. These doctrines perpetrate a blitzkrieg deconstruction of the middle class, privatization of public ownership and industry (downsizing and parceling out public companies and services to private interests), government deregulation and cuts to spending (thus, stimulating deep economic recessions) and cutbacks or the elimination of the public sphere and all social funding – hence, turning the working class into the “disposable poor” – to loosen control of the flow of money and to produce “freer trade” in the global market marked by an intransigent belief that “it should be left to correct itself.” Global free market theory has surfed “the waves of fear and disorientation” while advancing an ideology of “unfettered capitalism,” leaving inequality and degradation in its wake (Naomi Klein, award-winning journalist, fellow at the London School of Economics, author and filmmaker).
The free market theory caters to self-interested desires and profit to the detriment of other peoples’ lives, all the while promising “freedom and prosperity.” Free market principles advocate that the rich and poor should be taxed at the same flat rate, despite creating a vast inequity; that, for example, education, health care, retirement pensions, national parks (and most any function intrinsic to essential governing) become privatized; that publicly-owned companies, services and their assets be auctioned off to private investors; and that besides allocating vast amounts of wealth and resources from public to private ownership, in the free market the transfer of private debts to the public sector while public ownership is systematically dismantled ironically continue.
The free market economic theory was developed by Milton Friedman in the 1950s at the University of Chicago. It has come to underlie the basis for the exploitation of ecological, economic, political, and/or social catastrophes, documented in such places as Chile, Argentina, Brazil, Uruguay, Southern Cone, Poland, Falkland Islands, Bolivia, China, South Africa, Russia, Thailand, Malaysia, South Korea, Philippines, Indonesia, former Yugoslavia, “New Orleans,” Canada, Iraq, Sri Lanka… (Klein) – all attempted transformations through invasion, occupation, and deconstruction, in other words, the ransacking of a country’s natural resources, its culture and industries, and thus forcing austerity on masses of people, while further dispossessing the poor. (Resultant violence, theft, and teacher/poet/musician/watch cat: Global Free Market: A Perspective and Admonition: