July 29, 2008
The Shock Doctrine Gets Taken Apart

By The New Republic's Jonathan Chait. A few choice quotes from the review are below the fold.

"Klein repeatedly implies that there is something immoral about using crises to advance the right-wing agenda without explaining why this is so. After all, Friedman wanted to overhaul the New Orleans public education system because he believed, rightly or wrongly, that vouchers would work better. If you thought your house was horribly designed, and a tornado flattened it, would you rebuild it exactly as before?"

"The notion that crises create fertile terrain for political change, far from being a ghoulish doctrine unique to free-market radicals, is a banal and ideologically universal fact."

"...she is conscientious enough to provide readers with facts that blow her thesis to smithereens, yet at the same time she is deluded enough not to notice the rubble of her thinking on the floor."

"It ought to be morbidly embarrassing for a writer to discover that the central character of her narrative turns out to oppose what she identifies as the apotheosis of his own movement. And Klein's mistake exposes the deeper flaw of her thesis. Firedman opposed the war because he was a libertarian, and libertarian conservativsm is not the same thing as neoconservatism. Nor are the interests of corporations always, or even usually, served by war."

Posted by Art Carden at 02:31 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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