Eye of the Hurricane:
Milton Friedman and the Global South
Professor Walden Bello
Focus of on the Global South, 25 November 2006
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In this brief review of the impact of Milton Friedman's
fundamentalist free-market creed, Walden Bello charts its lasting
consequences in the global south in the form of Structural Adjustment
Programmes (SAPs) and its successor - Poverty Reduction Strategy Papers (PRSPs).
In particular Bello draws attention to Friedman's assertion about
political freedom going hand-in-hand with free-markets.
Bello points to the example of Chile (1973 - 1990) in which a
free-market paradise was imposed through one of Latin America's most
bloodstained military dictatorships. The irony of this ushering in of the
guru's fundamentalist free-market ideas could not have escaped the aloof
University of Chicago professor's attention.
Wallen Bello is professor of sociology at the University of the
Philippines and executive director of the Bangkok-based institute - Focus
on the Global South. Focus on the Global South