Free-market economists advocate the castration of democracy

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From  Ha-Joon Chang in the Guardian this morning:

In particularly difficult economic times, it was even argued, we need to insulate economic policies from politics altogether. Latin American military dictatorships were justified in such terms. The recent imposition of "technocratic" governments, made up of economists and bankers who have not been "tainted" by politics, on Greece and Italy comes from the same intellectual stable.

What free-market economists are not telling us is that the politics they want to get rid of are none other than those of democracy itself. When they say we need to insulate economic policies from politics, they are in effect advocating the castration of democracy.

This is now a recurring theme on this blog. And it's right to say so.

It's another reason why I have said so much about Jersey over the last few days.


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