Talk:Berkeley Mafia

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Latest comment: 13 years ago5 comments5 people in discussion

does anybody know what exactly did these guys DO? What was the nature of their reforms? 76.24.104.52 (talk) 20:58, 23 April 2009 (UTC)Reply

they had an orthodox approach. privatizations, obsessive reduction of inflation rates, deregulation of the economy, etc.--camr ^nag 13:10, 24 July 2009 (UTC)Reply

I do not. I would try Naomi Klein's "The Shock Doctrine" where neoliberalism's supremacy is more than questioned. Joseph Stiglitz' "Globalization" also questions it. Read too John Perkin's "Confessions of an Economic Hitman" if you're curious about the USA's NSA's nefarious methods of sabotaging foreign economies. —Preceding unsigned comment added by Scottatyner (talk • contribs) 18:10, 15 April 2010 (UTC)Reply

I reviewed "The Shock Doctrine," and although there is some mention of the Berkeley Mafia as Friedman-ite style neoliberals, she goes no deeper than that. Someone may want to double-check that for me. In looking at Indonesia's GDP growth, it seems to mimic that of Chile's under their Chicago Boys. However, that "trickle-up", if you will, economic system, even though it increases GDP, certainly does NOT "rise all boats." Capital flight protection ('no regulation too good to be slashed'), I would suggest, could have limited the effect of the Southeast Asian financial crisis. Klein says conditions in Southeast Asia have not fully recovered since that crisis. (copyright 2007). In looking at the CIA World Factbook, for instance, Indonesia's national Purchasing Power Parity (PPP) ranks 16th worldwide. However, their per capita PPP ranks 155th. Indonesia has weathered the recent financial meltdown fairly well and their rupiah has gained 16% on the dollar (a probable decrease on the part of the dollar). (I am a layman on economics with a BS in Psychology but have become curious over Indonesia and read several books on their history, culture, peoples, etc. If anyone adds anything, please let me know at scottatyner@yahoo.com) —Preceding unsigned comment added by 199.1.14.45 (talk) 18:45, 16 April 2010 (UTC)Reply

The role of the so-called Berkeley Mafia group of economic advisers is recorded in the literature about economic policy in Indonesia. See, for example, the books by Thee Kian Wie and Radius Prawiro referred to (as references) the Wikipedia entry under Widjojo Nitisastro. The name of the group is not particularly significant in itself. It was something of a joke, really, and no more than that. The term was used because the five main members of the team all studied at the University of California, Berkeley, in the early 1960s. The team of five were all professors of economics, and they all became senior economic advisers to the new president Suharto in the late 1960s. Their economic policies were generally cautious, focusing on economic stabilisation, economic growth, promotion of investment, rural development, and so on. These policies were very successful, leading to sustained economic growth throughout the 1970s and 1980s, and a markedly rising level of income for the mass of the people over the period. As just one (very important) example, rice production rose markedly during the 1970s and 1980s, and the average food consumption of ordinary Indonesians (which had been very low in the 1960s) rose by around 50% over the period. (Pmccawley (talk) 20:46, 2 January 2011 (UTC))Reply

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