by
Bob Hughes
280
A socialist computer: Chile, 1970-1973
1
terms
1
notes
a term for the loans provided by the IMF and the World Bank to countries that experienced economic crises, which come with strings attached: privatisation and deregulation, mainly (the conditions are also known as the Washington Consensus)
282
imposing 'structural adjustment' agreements: drastic cuts to public-sector spending and the sell-off of public-sector assets to fund debt-servicing
notable
7 years, 3 months ago
imposing 'structural adjustment' agreements: drastic cuts to public-sector spending and the sell-off of public-sector assets to fund debt-servicing
notable
7 years, 3 months ago
294
The attempt to shut down the economy in October 1972 not only failed; it also shone a floodlight on the sheer scale of the redundancy (in terms of unnecessary equipment and so on) a supposedly 'efficient', competition-based economy needs, just to that its players can compete with each other.
re: a trucking strike in October 73, funded by US govt
I think about this a lot ... the amount of redundancy is so wasteful, esp in tech (think of all the competing apps like Uber/Lyft and shit that have to develop the same tech independently cus they're trying to "compete")
The attempt to shut down the economy in October 1972 not only failed; it also shone a floodlight on the sheer scale of the redundancy (in terms of unnecessary equipment and so on) a supposedly 'efficient', competition-based economy needs, just to that its players can compete with each other.
re: a trucking strike in October 73, funded by US govt
I think about this a lot ... the amount of redundancy is so wasteful, esp in tech (think of all the competing apps like Uber/Lyft and shit that have to develop the same tech independently cus they're trying to "compete")