The Failure of Hugo Bashing
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Written by CEPR
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Thursday, 09 March 2006 18:26 |
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The Los Angeles Times featured an op-ed by CEPR co-director Mark Weisbrot, The Failure of Hugo Bashing. He writes: "Chavez's opposition to the 'Washington consensus' on economic policy has fallen on sympathetic ears in a region that since 1980 has suffered its worst long-term economic failure in a century. Over the last 25 years, income per person in Latin America has grown by a meager 10%, according to the IMF. This compares with 82% from 1960 to 1980, before most of Washington's economic reforms were adopted. And Venezuela's government has kept its promise to share the oil wealth with the poor...."
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