By CJ Polychroniou
Truthout | Op-Ed Sunday, 12 January 2014
The world is returning to the predatory laissez-faire capitalism
that immiserated millions in the early 20th century and in spite of the
fact it is predicated on neoliberal "voodoo economics," void of
empirical reference.
Since the late 1970s, most capitalist economies have been marching to
the tunes of neoliberalism - a term originally coined in the 1930s as a
moderate alternative to classical liberalism but
used in our own times to signify preference for a set of economic
policies favoring privatization, deregulation and a "minimal" state.
This is the version of neoliberalism developed by Milton Friedman and
the so-called Chicago School and is usually associated with the Pinochet
regime in Chile and later on with the so-called "free-market" policies
of Margaret Thatcher and Ronald Reagan. In more popular usage, it can
simply be referred to as predatory capitalism.
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