A Free Market Conspiracy?
Joseph Stiglitz and the World Bank's four step program

Nipawin - Thursday, November 29, 2001 - by: Mario deSantis


''transforming the way economists think about markets''
A contribution of economist Joseph Stiglitz as mentioned by the
Nobel Prize Economics Committee, October 10, 2001




I have very idealistic values as when I was young I always believed that our democratic governmental systems would be there to protect us and provide social justice. I was very naive and I am not pleased to have discovered a confused world where money takes priority over the life of people. In our writing, we have broken down the myth that the GDP is the measure of our social well being, we have broken down the myth that governments work for the people, we have broken down the myth that wealth is created through the stock market, we have broken down the myth that detailed research is the solution to our social problems, we have broken down the myth that enhanced productivity is the solution to our economic growth, we have broken down the myth that corporations work for the people, in few words we have broken down the myth of the Chicago School of Economics: the Free Market.



no free

There is no Free Market as this Free Market is now an hegemonic gospel preached by the big corporations, preached by our politicians appointed by these big corporations, preached by the richest countries headed by the United States, preached by the richest people, preached by the media controlled by the big corporations, a gospel enforced with the supreme stick of the world: the United States military force.




As I read the article "A primer on understanding conspiracies" by James Higdon I began to think about this notion of conspiracy. As a very individualistic man I have never got together with other people for the sake of profiting a selfish advantage at the expense of others. Therefore, the term "conspiracy" has never been part of my family's language, and the first time I ever paid attention to this term "conspiracy" was when five years ago a lawyer included this term in a statement of claim affecting my family.



School of Economics

Now that this notion of conspiracy has surfaced again I am becoming more leery about the good intentions of our rich governments to preach the gospel of the Free Market in accordance to Nobel Economics Prize Winner Milton Friedman, the founder of the Chicago School of Economics. As I reflect on the tragedies created all over the world by the Free Market system, known also as Corporate Globalization, I am really thinking there is a conspiracy designed by our hegemonic corporations and their political and governmental appointees.




Let me indulge on what Nobel Economics Prize Winner Joseph Stiglitz, former chief economist at the World Bank, has stated on how the IMF and World Bank use the following four step program to help out the developing countries:


Step One: Privatization.
This is also called Briberization. It is the selling off state's industries and the provision of business commissions deposited in Swiss banks to silence local critics.
Step Two: Capital Market Liberalization.
With this program cash comes in for speculation in real estate and currency, then flees at the first whiff of trouble.
Step Three: Market-Based Pricing.
This is the program for raising prices on food, water and cooking gas.
Step Four: Free Trade.
This program is also called the poverty reduction strategy. This is free trade by the rules of the World Trade Organization and World Bank, and where the enforcement of intellectual property rights condemn people to death. Stiglitz says this about the WTO, IMF and the World Bank: "They don't care if people live or die."


  Pertinent articles published in Ensign
  A primer on understanding conspiracies, by James Higdon, November 14, 2001 On Line Journal http://www.onlinejournal.com/Special_Reports/Higdon111401/higdon111401.html
  The Globalizer Who Came In From the Cold, by Greg Palast The Observer, London, October 10, 2001 http://www.gregpalast.com/detail.cfm?artid=78&row=1
  Renowned U.S. Economists Denounce Corporate-Led Globalization. Nobel Prize winner Joseph Stiglitz and internationally acclaimed economist Paul Krugman decry undemocratic, unsound, and unethical corporate agenda. By James L. Phelan, November 21, 2001 http://www.commondreams.org/views01/1121-03.htm
  FTAA (Free Trade in the Americas) Is a Threat, Warns Nobel Laureate, by Kintto Lucas, Published on Monday, October 29, 2001 in the Inter Press Service http://www.commondreams.org/headlines01/1029-03.htm