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To Galt's Gulch They Go

To Galt's Gulch They Go P OL I T IC S : Wa k e Up Over the boom and through the bust . . . 3 Thomas Fr ank To Galt’s Gulch They Go T here was a time when Atlas would frown and the world of nations would tremble. He was as mighty as Zeus and as petulant as a teenager. His wrath was irresistible, and he was easily provoked. Badmouth him and he might just drop his burden and walk away. Elect someone he didn’t approve of and he’d put a lightning bolt up your ass. Chile learned the hard way about minding the feelings of the business-class god. In 1970 that country selected as president one Salvador Allende, a socialist of the old school who quickly set about nationalizing banks, telecom concerns, and so on. American companies naturally feared these developments and laid plans to push the country down a different path. They would withdraw investments, executives mused; they would halt purchases of Chilean goods; and they would persuade others to do the same. President Richard Nixon, who was clearly thinking along the same lines, told his CIA director to “make the economy scream.” And scream it did. Still, http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Baffler MIT Press

To Galt's Gulch They Go

Frank, Thomas
The Baffler – Mar 1, 2013
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Publisher
MIT Press
Copyright
© 2012 Thomas Frank
Subject
Politics
ISSN
1059-9789
eISSN
2164-926X
DOI
10.1162/BFLR_a_00128
Publisher site
See Article on Publisher Site

Abstract

P OL I T IC S : Wa k e Up Over the boom and through the bust . . . 3 Thomas Fr ank To Galt’s Gulch They Go T here was a time when Atlas would frown and the world of nations would tremble. He was as mighty as Zeus and as petulant as a teenager. His wrath was irresistible, and he was easily provoked. Badmouth him and he might just drop his burden and walk away. Elect someone he didn’t approve of and he’d put a lightning bolt up your ass. Chile learned the hard way about minding the feelings of the business-class god. In 1970 that country selected as president one Salvador Allende, a socialist of the old school who quickly set about nationalizing banks, telecom concerns, and so on. American companies naturally feared these developments and laid plans to push the country down a different path. They would withdraw investments, executives mused; they would halt purchases of Chilean goods; and they would persuade others to do the same. President Richard Nixon, who was clearly thinking along the same lines, told his CIA director to “make the economy scream.” And scream it did. Still,

Journal

The Baffler – MIT Press

Published: Mar 1, 2013

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