In March, more than fifty economists signed onto an open letter, written by professors Ha-Joon Chang of the University of Cambridge and James K. Galbraith of the University of Texas at Austin, ahead of this year’s presidential elections in Ecuador. The letter noted:
Though I didn’t understand half of the economic stats and explanations in this letter, I understood enough to know and appreciate that CD printed it, and that it is a defense, underpinned with factual data, of the gains made in Ecuador under Rafael Correa’s presidency. I appreciate that U.S. and other developed world economists cared enough to defend the right of common people in South America to a more shared wealth and social benefit than they have gotten, historically, from the ‘Uncle Sam’ and corporate interventionism and economic domination of that continent’s governments and economies.
Especially in 90’s and 2000’s IMF and World Bank caused much misery in developing nations and South America or let’s just say around the world.
The U.S. M.O.: slap sanctions on them, then regime change.
Here is a response to the type of articles published in CD about Ecuador. They need much more substance: “The heterodox economics quackery of Ha-Joon Chang and his 50+ comrades about Ecuador” Search on Google.