At a risk of sounding cynical, it could be argued that the loudest voices came from the representatives of financial markets, who not only saw commercial advantage in continuing to open-up new markets, but for whom the experience of Mexico in 1994/95 was quite satisfactory, and required no modification – they achieved good returns (including a risk premium) in good times, and they were bailed out – to a greater or lesser degree – in the bad times.
3  The same tone had been picked up much earlier: “Economic liberalism was the organizing principle of a society engaged in creating a market system. Born as a mere penchant for non-bureaucratic methods, it evolved into a veritable faith in man’s secular salvation through a self-regulating market.” (Polanyi 1944, p. 135). 7  BIS Review 83/1999  The free-market triumphalists found allies elsewhere.