anyone here knowledgeable about South American economics?

[RainDog]

I'm curious if anyone here has followed the economic woes of various South American countries, particularly Argentina.

Also, what was the result of Bolivia becoming the first drug economy in the 80s?

any good online sources that anyone knows which can educate about these questions?

thanks in advance

[Don Galt]

1. Yep...

Well, Chile has been doing well. Pinochet was a brutal dictator, but somehow he invited Milton Friedman down and actually listened to him. the free economy has done well and hwne you walk around Chile you find poor people selling stuff... and they aren't that poor! They sell gum and cigarettes and all that... its a lot like walking around a state in the US where everyone speaks spanish.

Didn't go to argentina because they were having the meltdown. But the short of it is they inflated thier currency like we are doing now, only they don't have a trade deficit to export their paper to other banks with, and we do.

Argentina should be a cautionary tale to the US, but it seems nobody is listening.

Dont' know anything about bolivia, really.

[cprise]

3. Chile is a cautionary tale

Funny how fascist dictators are no problem at all as long as the poor have those gum-and-cigarette oppotunities beckoning. Libertarianism looks worse every time I read these posts.

Bolivia was heavily privatized, and also suffered a 'meltdown' (they were robbed). Didn't expect that country would be in the Randite tract book either.

[Vogon_Glory]

2. A Little About Ecuador

Ecuador is another one of those Latin American countries having their troubles. They are also up to their eyeballs in debt to the IMF and their government is broke--in art due to the massive external debt they've built up and in part due to the tax evasion proacticed first by Ecuador's upper classes, then later by that country's middle classes.

Ecuador's currency--the Sucre--tanked several years ago. Ecuador has dollarized their economy and US greenbacks are used as currency.

While Ecuador does have oil reserves, they are in a considerable amount of poverty and debt. Many Ecuadorians have emigrated--legally and illegally. Before 9/11 they tended to head for the US, but these days they tend to head for Europe.

I see Ecuador, a country with massive debt, crumbling infrastructure, minimalist social services, a bankrupt government, and deteriorating enviornmental protection as being what Texas would have had if it had remained independent and as a warning sign of where the Republican Party's wrong-headed policies can take the rest of us.

--VG

[cprise]

4. Fascinating comparison

Re: Texas and Ecuador.

So then, how does Venezuela become S. America's Texas? I think that would be a S. American version of the EU or the US's uniform commerce and labor codes.

And they are heading in that direction. Hmmmm!