Disaster Capitalism

2011 - Volume 14 Number 1

The concept of ‘disaster capitalism’ was conceived by extreme neoliberals at the University of Chicago dedicated to eliminating the public sphere so that business would be free and unfettered; and almost all social spending cease.

It feeds on the misery suffered by people whether in war, terrorism, natural catastrophes, poverty, trade sanctions and market crashes. Disasters are opportunities to generate huge profits and earnings.

The concept also applies in countries such as Australia where people who are asylum seekers are detained in centres, and prisoners held in prisons, run by ‘for-profit’ corporations. This new economy is outlined in Naomi Klein’s The Shock Doctrine: The Rise of Disaster Capitalism. The scheme always exploits people for profits.

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