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The Shock Doctrine: The Rise of Disaster Capitalism

By: Naomi Klein

1. Explain briefly how the shock doctrine according to the film was use to impose
neoliberal policies in develop countries like Philippines?

According to the film, the shock doctrine was use to impose neoliberal policies in
develop countries like Philippines through a shocking event like the market crash happened in
1997 or known as ‘ 1997 Asian financial crisis’ where that raised fears and panics to the people
because the market is not functioning properly. This massive chaos or economic crisis leads to
the use of shock doctrine wherein the crisis and chaos are used to implement neoliberal policies
such as free-market capitalism which accelerated privatization, deregulation and cuts to social
services.

Shock doctrine is a brutal and vicious tactic wherein it manipulates people through the
thinking that economic progress can be achieved after a shocking event like a war, market crash,
terrorist attack, coup, or natural disaster of a country that exploits public disorientation; suspend
democracy push through neoliberal policies.

2. According to the film, how are financial institution like World Bank and IMF
are involved in the noise of disaster capitalism?

According to the film, financial institution like World Bank and IMF are involved in the
noise of disaster capitalism by providing short-term loans or rescue packages for the most-
affected economies to enable them to avoid default, fixing the banking, currency and financial
system reform which increases growth and reduces poverty. The massive crises like natural
calamity, destruction of public infrastructure due to war, terrorist attack or market crash; the need
for reestablishment of the entire country is vital and necessary. Thus, World Bank and IMF
support to help countries build and maintain strong economies, allowing them to profit from the
aftermath of a disaster because it promotes international trade and imposes conditions on that
country before it grants a loan.

3. Who are the winners and losers in an economic shock therapy? Give a specific
example of neoliberal policy in the Phil. and demonstrate who the winners and
losers of this neoliberal policy are in the Philippine context.

In the Philippines, the best example of neoliberal policy is the K to 12 program because it
intensify and promotes privatization in the form of vouchers that allows private schools to profit
and satisfy the political and economic interests of foreign and domestic elites. According to
Angelo Gavrielatos; project coordinator of Education International, the K to 12 Program primary
objective is to generate and increase profits, wherein the standard of education is poor because K
to 12 employs fewer and unqualified teachers and provide facilities which do not comply to
standards of education. The winners of this neoliberal policy are the people who want profit, the
wealthy and powerful people like Pearson and Ayala who are making profit out of education and
the losers are clearly the people who doesn’t have power or under power by a dominant or rich
people, in short the poor, deprived and oppressed Filipinos.