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Let's stop kidding ourselves that Greek debt is the Euro's key problem. With Greece gone, who's next ?

Alex Morritt , em Impromptu Scribe
collapse depression greece greek-mythology currency credit crisis finances europe depression-quotes capitalism greek nationalism political-commentary economics finance crises black-hole transparency funds borrowing problems-in-the-world default problems-quotes funding indebtedness demise bankrupt bankruptcy national greek-myths bonds economy-bankrupt savings economic-collapse economic-crisis euro european-economic-area european-union markets debts problematic crisis-of-confidence yoke unravel credit-score current-events greek-tragedy marketplace exit fallout athens current-affairs problems-of-today political-corruption transparency-or-the-lack-thereof national-debt indebted bust capitalismo financial-crisis economic-depression running-away-from-problems problems-with-society political-satire boom-and-bust borrowing-money capitalism-and-schizophrenia credit-challenged credit-restoration creditors crisis-of-capitalism currencies current-situation debt-crises debt-inheritance default-position exit-strategy financial-markets financial-worries fundraising grexit kidding kidding-yourself loans-for-bad-credit loans-for-bad-credit-rating noose political-expediency unravelling

Arnold Harberger, Milton Friedman & Co. Inc., your modest proposal of partial equilibrium for the general good is not without its own internal contradictions. Moreover, you cannot take complete credit for this program of equilibriation. Although you and your colleagues and disciples at the Department of Economics of the University of Chicago may have dedicated two decades to the design of the program and the technical training of its executors, it took the approach of another major economic and political crisis of capitalism, analogous to that of the 1930's, to mobilize the political support and the military force to instal a government prepared to put your program of equilibration and your equilibrating experts to work in Chile - and you, Milton Friedman, are still waiting to put your part of the same program, complete with Brazilian style indexing, into practice at home for the glory and benefit of the bourgeoisie in the USA, whom you so faithfully serve as paid executors and executioners.

André Gunder Frank , em Economic Genocide In Chile: Monetarist Theory Versus Humanity: Two Open Letters To Arnold Harberger And Milton Friedman
capitalism bourgeoisie neoliberalism chile crisis-of-capitalism arnold-harberger chicago-boys milton-friedman