"Because the privatizers of the Bush administration were, however, in control of a largely prostrate and conquered country, the Iraqi reforms were enacted more swiftly and in a far more draconian manner than anywhere else on the planet. Within six months, for example, the American occupation government, the Coalition Provisional Authority (CPA), had promulgated all manner of laws designed to privatize everything in Iraq except established oil reserves. (New oil discoveries, however, were to be privatized.) All restrictions were also taken off foreign corporations intent on buying full control of Iraqi enterprises; nor were demands to be made of those companies to reinvest any of their profits in Iraq.
"At the same time, state-owned enterprises were to be demobilized and sidelined. They were to be prevented from participating either in repairing facilities damaged during the invasion (or degraded by the decade of sanctions that preceded it) or in any of the initially ambitious reconstruction projects the U.S. commissioned. This policy was so strict that even state-owned enterprises with specific expertise in Iraqi electrical, sanitation, and water purification systems -- not to speak of Iraq's massive cement industry -- were forbidden from obtaining subcontracts from the multinational corporations placed in charge of rejuvenating the country's infrastructure."
Tuesday, March 28, 2006
Via Altercation, we get this take on why Iraq is so messed up. I have to admit, as someone who utterly dismisses the market when it comes to actually helping people in trouble, that I forgot completely about the 24 year old that set up this horseshit was to run a country.