Monday, September 28, 2009

On the economic and financial crisis, President Lula said the free market policy had failed

On the economic and financial crisis, President Lula said the free market policy had failed
"I refer to the absurd doctrine that markets could regulate themselves, with no need for so-called "intrusive" state intervention, and to the thesis of absolute freedom for financial capital, with no rules or transparency, beyond the control of peoples and institutions," he said. "It was an iniquitous defence of a minimal, crippled, weakened state, unable to promote development or fight poverty and inequities. It included the demonisation of social policies, an obsession with precarious labour relations and an irresponsible co-modification of public services. The real cause of the crisis was the confiscation of most of the sovereignty of peoples and nations through the state and democratic governments - by autonomous networks of wealth and power."

-President Lula of Brazil joins the growing community to reject Neo-Liberalism.

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