Friday, December 14, 2007

The ruthlessness of the market

The Hidden Holocaust
"In India, between 5.5 and 12 million people died in an artificially-induced famine, although millions of tonnes of grains were in commercial circulation. Rice and wheat production had been above average for the previous three years, but most of the surplus had been exported to England. “Londoners were in effect eating India’s bread.” Under “free market” rules, between 1877 and 1878, grain merchants exported a record 6.4 million hundredweight of wheat to Europe while millions of Indian poor starved to death.

Crucially, Davis argues that these people died “not outside the modern world system, but in the very process of being forcibly incorporated into its economic and political structures. They died in the golden age of liberal capitalism; many were murdered by the application of utilitarian free trade principles.”"