RE: Conservative Party Co
Remember when the Argentine economy collapsed a few years ago? They closed the banks, went through a president a day, and had riots on the street.
Menem, the leader of Argentina at that time, entered into every free-market deal he could find. He privatized everything, doled out huge amounts of corporate welfare, encouraged massive foreign ownership, and removed almost all the restrictions on the movement of money.
The Woreld Bank and the IMF loved it. Menem was their poster boy. The US loved him too, especially the Bushites. The corporate world hailed him as the saviour of the developing world.
Things went sour because wages kept going down and corporate profits kept going elsewhere. If the workers talked back, the factories closed. Those same factories were propped up with government money and contracts. Eventually the government ran out of money, so the factories closed. Since there were no regulations, the corporations fled the country with the cash. People went hungry because the social system had been dismantled. Argentina went broke.
It was like a map of the failings of neo-conservative doctrine. It received almost no press coverage...a formerly prosperous country forced into bankruptcy and the corporate media hardly covered it. What coverage there was carefully skirted the policies at the base of the collapse.
The Argentine economy was, at its heart, not much different than the Canadian economy.