The central lesson is of urgent importance: that the economic policies pushed on Latin America in the early 1980s were an excellent way of helping US banks out of crisis, but an appalling way of resolving Latin America’s debt crisis, instead creating two decades of more debt, poverty and inequality.The author makes some very good points about what happened in Latin America in recent decades, but he fails to understand that this is the way capitalism functions. Capitalists cannot learn such a lesson as long as this tiny class of the (less than) One Percent continue to subscribe to that system. It is not that they are stupid, it is the logic of the system. Most of them will continue to support the logic of this system simply because they are addicted to the tremendous wealth and power that it gives to them.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Thursday, February 23, 2012
Greece is a smokescreen to hide the mother of all bank bailouts
Click here to access article by Nick Dearden from Committee for the Abolition of Third World Debt.