Questions About The Shock Doctrine: The Rise of Disaster Capitalism

Reader Q&A

To ask other readers questions about The Shock Doctrine, please sign up.

Answered Questions (3)

Do you need to know economics properly to read this book?

Veronika I think it is perhaps better not to know - go in with an open mind and then use her well documented references to follow with up your own research, ch…moreI think it is perhaps better not to know - go in with an open mind and then use her well documented references to follow with up your own research, check out the context of her commentary with original documents or use as a link/hook to further your own knowledge/shape your own point of view on any specific point or idea mentioned.(less)

flag

"But (Milton) Friedman and the other shock therapists were also guilty of the oversimplification, basing their belief in the perfection of market economies on models that assumed perfect information, perfect competition, perfect risks markets. Indeed, the case against these policies is even stronger than the one Klein makes." Do you agree with Nobel Prize Winning Economist Stiglitz's quote?

Johan What does even perfect mean in these instances?

Friedman must have been thrilled when approached by Pinochet, for the first time someone was showing in…moreWhat does even perfect mean in these instances?

Friedman must have been thrilled when approached by Pinochet, for the first time someone was showing interest in implementing his untested ideas.

Thinking that (economic) decisions are taken purely based on available information is already there nonsense. Then to take step to say that perfect information would lead to a perfect market economy is simply delusional.

So basing a wide range of (macroeconomic) policies on such notions is nothing but irresponsible.

So I yes, I agree with Stiglitz on this one.(less)

flag

Is President Trump's team using what Naomi calls the "Chicago School free trade crusade" to get what he wants? Are we seeing the Shock Doctrine in action today?

BillLan I do not think President Trump even knows what the Chicago School is let alone what their economic theories entail. That would require him to first, r…moreI do not think President Trump even knows what the Chicago School is let alone what their economic theories entail. That would require him to first, read, and then think. Very unlikely. (less)

flag