It's not so much the free market that failed here, but that World Bank is being more widely understood to be a tool of global economic exploitation. The World Bank (and the IMF) are a cheat and a scam to make sure that developing countries remain developing countries while the world's ultra-rich (think Bechtel, Halliburton, etc.) get richer and richer at the expense of the world's poor.
In this case, the World Bank was repeating the message it was told to repeat by the economic elite in the US, for the benefit of the same elite. Want to make Monsanto, Cargill, and ADM even more profitable? Make sure that there are buyers for their products on the world market. Under no circumstances encourage those potential buyers to develop independent supplies of those same products.
Whenever an economic mystery is presented, you just have to follow who's making the money from the current situation and you'll find out who's been pulling the strings.
It's not so much the free market that failed here, but that World Bank is being more widely understood to be a tool of global economic exploitation. The World Bank (and the IMF) are a cheat and a scam to make sure that developing countries remain developing countries while the world's ultra-rich (think Bechtel, Halliburton, etc.) get richer and richer at the expense of the world's poor.
ReplyDeleteIn this case, the World Bank was repeating the message it was told to repeat by the economic elite in the US, for the benefit of the same elite. Want to make Monsanto, Cargill, and ADM even more profitable? Make sure that there are buyers for their products on the world market. Under no circumstances encourage those potential buyers to develop independent supplies of those same products.
Whenever an economic mystery is presented, you just have to follow who's making the money from the current situation and you'll find out who's been pulling the strings.