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Reflexions sociales et politiques du moment

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The new exploitation

"Free market ideologies turned out to be an excuse for new forms of exploitation. "Privatization"meant that foreigners could buy mines and oil fields in developing countries at low prices. It also meant they could reap large profits from monopolies and quasi-monopolies, such as telecommunications. "Financial and capital market liberalization" meant that foreign banks could get high returns on their loans, and when loans went bad, the International Monetary fund (IMF) forced the socialization of the losses, meaning that the screws were put on entire populations to pay the foreign banks back." Joseph E. Stiglitz, Freefall, p. 221 

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