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Capitalism, The State, and How We Got Here with Christian Parenti

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CHAPTER

The Rise of Neoliberalism

Jimmy Carter appointed Paul Volcker as chairman of the Federal Reserve. He was trying to cool off the economy by raising interest rates. Reagan wins the election, and between 1980 and 1982, the Fed's rate reaches 20% three different times. This reverberates out through the global south. All this is like collectivism and needs to be pushed back against intellectually.

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