Tuesday, March 24, 2009

One More Example of Neoliberalism's Failures in Latin America

I may have more to say on this later today (though I invite Kim, Yann, Erik, and/or Sarah to join in if they have more to say), but, to go along with Sarah's posts, it should come as no surprise to anybody that neoliberal free trade policies may not be as helpful to Latin America as many people argued they would, and that "Nafta produced results that were exactly the opposite of what was promised." A policy that has effectively helped rich companies get even richer while paying less, ravaging workers' rights and living conditions, with economic, social, and political results that economists naively didn't see coming because the real world didn't actually fit into the model? Shocking, I know, but it does sum up a lot of what has been wrong with U.S. economic policy in Latin America in the last several decades of decades