By Glenn Stehle
Correa’s four foundational policies are expanded health care, expanded education, improved infrastructure, and encouraging entrepreneurs by reducing the time and cost of starting a business in Ecuador.
Ecuador needs the money that producing the Yasuni oil can provide.
–WILLIAM K. BLACK, “Why is the economist chortling over the prospect of oil pollution in Ecuador?”
That Ecuador’s President Rafael Correa proposes extracting primary materials to pay for his ambitious policies should come as no surprise.
By William K. Black
(Cross posted at Benzinga.com)
Alvaro Vargas Llosa (AVL) co-authored the Guide to the Perfect Latin American Idiot with two other journalists. He revisited the subject with an article in 2007 entitled “The Return of the Idiot.”
“The ‘Idiot’ species, we suggested, bore responsibility for Latin America’s underdevelopment. Its beliefs — revolution, economic nationalism, hatred of the United States, faith in the government as an agent of social justice, a passion for strongman rule over the rule of law — derived, in our opinion, from an inferiority complex. In the late 1990s, it seemed as if the Idiot were finally retreating. But the retreat was short lived. Today, the species is back in force in the form of populist heads of state who are reenacting the failed policies of the past, opinion leaders from around the world who are lending new credence to them, and supporters who are giving new life to ideas that seemed extinct.” Continue reading