Community development, one of its officers giddily explained, could be a bulwark “against the leftist takeover of every hamlet in Latin America, Asia, and Africa.”
this is wild
Even a decade later, an informal plebiscite for the renationalization of Vale organized by unions, students, and the Landless People’s Movement in 2007 was able to mobilize three million votes.
Still, there are differences between the “Washington Consensus” policies of the past and those advanced by the brics. For one, China does not have a neoliberal economy
Similar policies were also implemented in the Global South throughout years of neoliberal structural adjustment.
Unfortunately, Yunus had embraced a long-disproven fallacy known as Say’s law — the idea that supply creates its own demand. As the late economist Alice Amsden explained, the core problem in developing countries is not the supply of basic items, but the sheer lack of local demand (or purchasing power) required to pay for them.
