“Extract of Michael Winterbottom´s documentary "The Shock Doctrine: The Rise of Disaster Capitalism" (2009), based on the book written by Naomi Klein. This extract talks about the imposition of the free market model in Chile from 1970 and forward, how the CIA assisted and funded the military coup of 1973, and the formulas used to implemet free market economy as opposed to Allende´s "marxism", drafted by the called "Chicago Boys", chilean students sent to University of Chicago to study free market economics under Milton Friedman”
"Shock Doctrine and Economic Policies
As the key economic advisors of the Pinochet dictatorship, the Chicago Boys were the forerunners of the economic policies of that government. They sponsored state run policies to decrease national spending, end inflation and promote economic growth. They promoted a policy of strict austerity and cut government expenditures substantially. Free trade agreements and the breakdown of barriers to trade were also promoted to help Chile compete in the world market. They also privatized public companies, and utilized the free market rather than government rule to promote their economic policies.[9] This was part of the neoliberal economic views espoused by Milton Friedman, the ideological backer for their views. Friedman and his connections to the Chicago Boys was highly politicized especially after he received the Nobel Prize for Economics in 1976. The policies are also sometimes referred to as shock therapy based on the fact that they were projected to hurt the economy but overall be beneficial in the long run.[13] These policies influenced future governments and organizations tied to the neoliberal economic viewpoint such as the World Bank, International Monetary Fund, and other International Organizations and governments. However, the relations between these organizations were not always close, and rivalry between neoliberal organizations still existed.[14] The ideology of free market capitalism and laissez faire economics in conjunction with a strong military rule and total political control is the cornerstone of Pinochetism, in conjunction with a strong anti-communist political platform. These policies and their effects are both highly controversial in Chile and around the World, and represent a major divide in Chilean politics to this day.[15]
International Influence
The economic success of the Chicago boys was a critical part of bolstering the Pinochet regime abroad. The Chilean miracle as it was called attracted a lot of necessary positive attention for the Pinochet government, and allowed Pinochet to exercise political repression without condemnation by economic allies. New policies such as structural adjustment, free trade, and tax cuts became incredibly popular with conservative political groups throughout the western world. These policies eventually spread into the United States and United Kingdom via their conservative leaders. Chile was one of the first countries to embrace these policies and they have since spread in part due to the initial success Chile experienced.[3]"
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Populist vs elite.
The other side of Liz Truss extreme economic failure is “populism.” The main stream press is still politely naming racist Jew, Muslim, brown people, nationalistic hate “populism.”
“I am a fighter and not a quitter!” British Prime Minister Liz Truss thundered Wednesday in the House of Commons. “I am resigning,” she said Thursday, in a less bombastic tone of voice. Let’s hope conservatives here and around the world learn a lesson about both policy and populism (racist Jew, Muslim, brown people, nationalistic hate).
In a larger sense, however, even if you leave aside her political ineptitude and her embrace of voodoo economics, Truss was in an impossible position. So was Johnson before her, and so will be her successor. The Conservative Party is in power because it embraced populism ( racist Jew, Muslim, brown people, nationalistic hate ), which turns out to be a good way to win elections but an impossible way to govern.
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Washington Post
Opinion Liz Truss’s fall is a warning to populists everywhere
October 20, 2022 at 3:04 p.m. EDT
Populist is a broad term that can be applied to Hitler and to Roosevelt, Trump and Bernie Sanders.
Hitler was "of the people." but used antisemitism to become an elite. FDR was of the elite but was called "a traitor to his class."
Wealthy elitist Franklin Delano Roosevelt gave me, the son of a steelworker, prosperity. Then Reagan took prosperity away from children of steelworkers and following the economic principles of Milton Friedman gave it to the elite.
Trump is an elitist who lied and claimed to be populist but picked out the racist, nationalistic part of populist. Bernie Sanders is "of the people and continuously supported "the people" without the racism & antisemitism of Trump.
But we lump Hitler, Roosevelt, Trump, Sanders & now Liz Truss & Boris Johnson into populist. See Populism below.
“Populism refers to a range of political stances that emphasize the idea of "the people" and often juxtapose this group against "the elite". It is frequently associated with anti-establishment and anti-political sentiment. The term developed in the late 19th century and has been applied to various politicians, parties and movements since that time, often as a pejorative. Within political science and other social sciences, several different definitions of populism have been employed, with some scholars proposing that the term be rejected altogether.
A common framework for interpreting populism is known as the ideational approach: this defines populism as an ideology which presents "the people" as a morally good force and contrasts them against "the elite", who are portrayed as corrupt and self-serving. Populists differ in how "the people" are defined, but it can be based along class, ethnic, or national lines. Populists typically present "the elite" as comprising the political, economic, cultural, and media establishment, depicted as a homogeneous entity and accused of placing their own interests, and often the interests of other groups—such as large corporations, foreign countries, or immigrants—above the interests of "the people". Populist parties and social movements are often led by charismatic or dominant figures who present themselves as "the voice of the people". According to the ideational approach, populism is often combined with other ideologies, such as nationalism, liberalism, or socialism. Thus, populists can be found at different locations along the left–right political spectrum, and there exist both left-wing populism and right-wing populism.
Other scholars of the social sciences have defined the term populism differently. According to the popular agency definition used by some historians of United States history, populism refers to popular engagement of the population in political decision making. An approach associated with the political scientist Ernesto Laclau presents populism as an emancipatory social force through which marginalised groups challenge dominant power structures. Some economists have used the term in reference to governments which engage in substantial public spending financed by foreign loans, resulting in hyperinflation and emergency measures. In popular discourse—where the term has often been used pejoratively—it has sometimes been used synonymously with demagogy, to describe politicians who present overly simplistic answers to complex questions in a highly emotional manner, or with opportunism, to characterise politicians who seek to please voters without rational consideration as to the best course of action.
In the 1960s the term became increasingly popular among social scientists in Western countries, and later in the 20th century it was applied to various political parties active in liberal democracies. In the 21st century, the struggle over the term intensified in political discourse, particularly in the Americas and Europe, with it being used to describe a range of left-wing, right-wing, and centrist groups that challenged the established parties.[1]”
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The Shock Doctrine
"In THE SHOCK DOCTRINE, Naomi Klein explodes the myth that the global free market triumphed democratically. Exposing the thinking, the money trail and the puppet strings behind the world-changing crises and wars of the last four decades, The Shock Doctrine is the gripping story of how America’s “free market” policies have come to dominate the world-- through the exploitation of disaster-shocked people and countries."
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