Newsworldnews

Wed Sep 16, 2015, 03:27 PM

40 years ago the US sent Mexico into a financial crisis

— and it transformed the narcotics industry

This is a serious indictment of US policy towards Mexico in the 70s and 80s. While it deals with banks and financial landmarks, IMHO it still misses the single reason – the continued demand for the product by the American public.

Read more @ http://www.businessinsider.com/40-years-ago-the-us-sent-mexico-into-a-financial-crisis-and-it-transformed-the-narcotics-industry-2015-9

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Reply 40 years ago the US sent Mexico into a financial crisis (Original post)
sargentodiaz Sep 2015 OP
i verglas Sep 2015 #1
smoke check Sep 2015 #2
i verglas Sep 2015 #3

Response to sargentodiaz (Original post)

Wed Sep 16, 2015, 03:38 PM

1. quite an excellent nutshell

 

from an interesting source.

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Response to sargentodiaz (Original post)

Wed Sep 16, 2015, 04:01 PM

2. It's an interesting article....

It could have been labeled "Why Structural Change Must be Managed" and have been just as accurate. The problem is that a lot of these reforms needed to take place regardless of any crisis or treaty agreement. You can't get by just doing things the old way because "it's what they've always done". The number of farmers and their productivity has vastly changed in the US as well. It isn't the glorification of private enterprise or free markets that hurt people, it's their inability or refusal to adapt that does it.

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Response to smoke check (Reply #2)

Wed Sep 16, 2015, 09:20 PM

3. I'm not sure we read the same article

 

What did it, in Mexico, was the plundering of the public patrimony in the service of the ruling economic class - not just in Mexico, and the intentional impoverishment of vast numbers of people by crushing labour unions, trashing basic public and social services, and the choice to open the borders to cheap imports that local producers could not compete with.

Nobody was actually demanding that the old ways be maintained for their own sake. The old ways mean living wages, health care and education, and a relatively stable society not ridden by corruption.

No, it wasn't the glorification of private enterprise or "free markets". It was the intentional destruction of an entire society and ruination of millions of lives, for the profit of a very few, both domestic and foreign, whose only entitlement to their profit derived from the power that their political lackeys, both domestic and foreign, were able to exert in a set of dire circumtances they had themselves created.

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