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Tuesday, April 29, 2014

War, Terror, Catastrophe: Profiting From 'Disaster Capitalism' | Naomi Klein

War, Terror, Catastrophe: Profiting From 'Disaster Capitalism' | Naomi Klein



War, Terror, Catastrophe: Profiting From 'Disaster Capitalism'

Paul B. Farrell, Dow Jones Business News, October 16, 2007

Hot tip: Invest in "Disaster Capitalism." This new investment sector is the core of the emerging "new economy" that generates profits by feeding off other peoples' misery: Wars, terror attacks, natural catastrophes, poverty, trade sanctions, market crashes and all kinds of economic, financial and political disasters.

In this Orwellian future, everything must be seen with new eyes: "Disasters" are "IPOs," opportunities to buy into a new "company." Corporations like Lockheed-Martin are the real "emerging nations" of the world, not some dinky countries. They generate huge profits, grow earnings. And seen through the new rose-colored glasses of "Disaster Capitalism" they are hot investment opportunities.

To more fully grasp this new economy, you must read what may be the most important book on economics in the 21st century, Naomi Klein's The Shock Doctrine: The Rise of Disaster Capitalism,whose roots trace back the ideas of three 20th century giants:

President Dwight D. Eisenhower, who warned us against the self-perpetuating and ever-expanding economic power of our "military-industrial complex."

Nobel economist Milton Friedman, who said economic change never occurs without a crisis shocking the system; whether the crisis is natural, induced or merely perceived, as with enflaming public fears of war and terror threats.

Economist Joseph Schumpeter, whose saw "creative destruction" as a healthy process by which new technologies and new products made old ones obsolete.

"Disaster Capitalism" is financing a new world economic order says Klein, not just in "the divide between Baghdad's Green and Red zones" but in other disaster zones, from post-tsunami Sri Lanka to post-Katrina New Orleans.

Disasters come in many forms: Weapons destroying power plants and hospitals, nature weakening bridges, hurricanes wiping out towns, ideological conflicts turning Africa's farmlands into deserts, global banking systems favoring investors over public works, shopping malls over schools, sewage treatment and power plants, and so on. 



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