What was a consequence of Milton Friedman's market principles for the global south?
A) Because of these principles, markets in these economies saw unprecedented growth.
B) The gap between the rich and the poor in the developing world decreased significantly.
C) Major capital projects commenced, such as the building of dams for hydroelectric power.
D) Interest on loans made to these countries soared beyond their ability to pay.

Question

Quizplus · Accepted Answer

Milton Friedman's market principles advocated for the liberalization of markets in the global south, encouraging borrowing and investment from foreign countries. However, this led to countries taking on high levels of debt, and eventually, interest on these loans became too high for many countries to pay back, resulting in a debt crisis. Therefore, option D is the correct choice.

What Was a Consequence of Milton Friedman's Market Principles for the Global