tag:blogger.com,1999:blog-6245381193993153721.post1368665411776232552..comments2024-03-17T00:23:24.896-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: Why Did Latin American Import Substitution Industrialisation Run into Serious Problems by 1970s/1980s?Lord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6245381193993153721.post-63845973206783115182017-02-06T05:22:18.230-08:002017-02-06T05:22:18.230-08:00It would be too long to provide a reply. But Brazi...It would be too long to provide a reply. But Brazil provides a counter example. Up to the debt crisis it was growing faster than South Korea (sure State-led Industrialization had problems there too). But what brought it to an end in the early 1980s, was Volcker. And the debt renegotiation aftermath, which was much harder on Latin America than in East Asia. Matias Vernengohttps://www.blogger.com/profile/09521604894748538215noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-44882734056784042722017-02-05T01:16:35.983-08:002017-02-05T01:16:35.983-08:00An excellent article. In relation to Argentina, p...An excellent article. In relation to Argentina, points 2, 3 and 4 are especially relevant. The industrial jobs that create a middle class come when nation-states invest in infrastructure and training to support the processing of primary product (agriculture and mining product). <br /><br />Australia did, for a time, invest in such infrastructure and enjoyed a relatively high standard of living during the middle 20th century as a result. At this time, Argentina's standard of living was slipping, despite the otherwise positive influence of Peronist politics.<br /><br />Australia no longer invests in secondary processing of our primary products, having swallowed the economic rationalist argument that it's not our 'natural strength'. The labour share of GDP falls. Trader union membership is at the lowest level for 50 years. Our middle class shrinks. Economic inequality grows. Our Treasurer assures us that all is well and that rivers of Asian real estate investment money will float all boats (he doesn't use those words, obviously..).<br /><br />.jingelichttps://www.blogger.com/profile/09998585247772423235noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-17545716136311162922017-02-03T08:09:38.545-08:002017-02-03T08:09:38.545-08:00ohh its actually an interesting piece to counter f...ohh its actually an interesting piece to counter free trade advocates when they bring latin america.disequilibriumhttps://www.blogger.com/profile/09760922141392402211noreply@blogger.com