Another book finished!

I have (finally) finished my book "The Shock Doctrine" by Naomi Klein... it's been quite an intense read, with the author tracing through history and approaches by various institutions across the world as nations seek to embrace capitalism and free markets.

I've never studied or read much details about free markets or the role of governments before this but I have to say the book is quite an eye-opener, especially right now after the US elections (and the various promises on the future and attacks on Bush made by Mr Obama) and now as global economies start melting down.

There's a lot of content in the book, which I won't be divulging... but it's all presented in an easy-to-follow flow... it starts off first talking about research into torture tactics and its translation into a step-by-step guide used by the CIA and many other institutions around the world. Using the principles from torture and shock tactics, the author draws the link between such individual actions and collective actions taken by governments and institutions in a bid to speed up implementation of the free-market model as expounded by the University of Chicago Economic Faculty, a model which is a brain child of Milton Friedman, famed Economist.

The book looks at how true democracy and people rule have rarely prevailed in the bringing in of 'free markets', and how this particular model works on the basis of true non-intervention in the market. This ultimately suggests that the government should not interfere with market forces even in areas such as health-care, education and infrastructure. Rather, governments should focus on de-regulation and let market forces take over. Due to the rather drastic nature of such a market model, the author argues, through examples in Latin America, South Africa, China, Middle East, post-Soviet Poland and Russia, of how such measures have been forced into implementation by coups, violence, dictatorships and pressure from the IMF and US government.

The book also takes an extensive look at the US economy under the Bush administration in terms of out-sourcing contracts and functions to private companies, and the role that the Iraq war has played in the creation of new, super-wealthy individuals and companies while local Iraqis watch helplessly as their country and wealth get pillaged openly. Looking at the current state of the US economy with recession fears widespread, a huge and growing national debt, established banks and auto companies falling like bricks, one does start to wonder about the approach towards 'free market'.

Finally, the book looks at how natural disasters such as the Asia tsunami in 2004 and Hurrican Katrina in the US have paved the way for erasure of old life and presented an opportunity for 'free market'-hungry institutions to push through the debris and rebuild their ideal models from scratch, at the expense of improving the lives of thousands of affected citizens.

Some might say that the book makes for perfect conspiracy theories, and leads one to doubt the motives behind governments and supposed-impartial global institutions. Nevertheless, the book offers hope too as we look at countries who have rebuilt themselves from the ashes and chaos from this particular economic model. It also highlights how with information moving across the world faster, people are more cautious and aware should similar measures be forced onto them.

Personally, I find it heartening that governments are starting to question again the meaning of free markets, and the role that governments, the IMF and World Bank have in ensuring stability in their own nations and around the world. While the answers will probably take quite a while to sort out, we can only hope that current fears of 'de-regulation' and certain 'free market' models will not drive us to the extreme of severe protectionism and control.