Wednesday, September 24, 2003

Say no to Iraqi privatisation: "America's plan to privatise the Iraqi economy is a mistake that needs to be corrected before it is implemented. The huge sell-off programme, tax breaks and virtual elimination of tariffs on imports is designed to attract foreign investment and revive Iraq's moribund industries. But recent evidence suggests Washington's radical prescription is doomed to fail. The last big socialist, centralised economy that opted for such sudden and drastic shock therapy was Russia in 1992. The result was economic devastation, rampant corruption and the rise of a powerful class of businessmen, the oligarchs." - the Guardian leader does not comment that this kind of 'failure' may be precisely what is intended.

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