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economic populism

Page history last edited by PBworks 12 years, 2 months ago

 


 

 

Populism 

 

advise for FDI investors:

economic populism is dangerous for the investor.  If you see that the country that you are in...is suddenly acting like an economic populist...be careful! 

 

for economic development:

 for Economic Development, we see populism as a detriment.  Time and time again, the populist leaders of Latin America drove up spending, and increased debt levels to unsustainable levels (see debt ratings agencies).

 

 

Examples:

 

In 2008, the President of Venezuela (Hugo Chavez) could be described as a populist, doing what is "right for the poor"....but, the question is:  are the Chavez policies really in the best long-term interests of the Venezuelan people?  Short term vs. long term.  This issue of longterm vs. shortterm is the key to looking at populist policies.  Often times (most times), the best long-term policies are difficult in the short term, and might even make most people worse off in the short term.  This is one reason that politicians in democracies often struggle to impliment liberal economic policies (such as privatizations, free trade, etc). 

 

 

philisophical discussion (about economic development):

 

This is one argument that China has made for why it has been able to make drastic economic changes, but India has not.  (China can push through changes that are unpopular, while the democratically elected government in India can not).  This argument fits into a popular notion among developmental economists that countries such as Chile needed to be a military dictatorship in order to progress quickly (this argument is sometimes used in other countries such as Peru, for example).  But, is this argument valid?  discuss here...are authoritarian governments better at fast-economic development?

 

 

 

Kookyplan Links:

see our discussion on...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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