Thursday, September 06, 2007

neoliberalism

I've been wondering for a while why this new type of capitalism we see eating away our public services and infrastructures is spreading so aggressively now (while it wasn't happening, say, in the 60s and 70s). Last week George Monbiot published a comment that answered some of my questions:

How the neoliberals stitched up the wealth of nations for themselves

And this week he showed a nice example of how a private/public funding initiative (PFI) wrecked a hospital that would have needed 30 million pounds of public money for refurbishment. Now it needs 30 million pounds every year to service the debt to the private investors. Madness or what ?


This great free-market experiment is more like a corporate welfare scheme

Oh well. I'm wondering how long this whole bubble will last before it all ends in tears ...

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