Bolivia - Fastest Growing Economy in the Americas

  • metta

    Posts: 39099

    Oct 22, 2014 5:55 AM GMT
    10418233_846703572030792_529245744242029


    Bolivia has reduced poverty and inequality more than any country in the Western Hemisphere over the last ten years by increasing the minimum wage 87%, doubling investment in schools and healthcare, and lowering the pension retirement age from 65 to 60. The government paid for these programs by increasing taxes on oil profits from 18% to 82%, which also allowed the country to eliminate its debt and amass the world's largest surplus. Bolivia is now estimated to have the region's fastest growing economy this year and next, according to the IMF.

    Evo Morales has proved that socialism doesn’t damage economies

    http://www.theguardian.com/commentisfree/2014/oct/14/evo-morales-reelected-socialism-doesnt-damage-economies-bolivia


    Bolivia's Economy Under Evo in 10 Graphs

    http://www.cepr.net/index.php/blogs/the-americas-blog/bolivias-economy-under-evo-in-10-graphs
  • roadbikeRob

    Posts: 14336

    Oct 25, 2014 12:53 AM GMT

    This is awesome news from a once deeply impoverished, highly indebted third world country. Bolivia did the right things by investing in its people and its infrastructure. Now to have a huge budget surplus after all the horrors that country has gone through in its history, that is outstanding. I wonder how neighboring Paraguay is doing to develop itself and get out of third world poverty. It would be nice if leaders from the US, the UK, Australia and other first world countries should observe what Bolivia did to erase a massive deficit and eradicate poverty and unemployment and building up its national economy.
  • sinfakos

    Posts: 43

    Oct 26, 2014 2:47 AM GMT
    I agree. This is a great example to the rest of the world, especially North America.
  • Teth1

    Posts: 39

    Oct 26, 2014 3:35 AM GMT
    43 Bolivians...and volleyball fans to boot D:

    http://www.youtube.com/watch?v=D6XwJ1Ag2GA
  • roadbikeRob

    Posts: 14336

    Oct 26, 2014 6:36 PM GMT
    Sinfakos saidI agree. This is a great example to the rest of the world, especially North America.
    Primarily the United States to follow. But Wall Street will never allow that to happenicon_mad.gificon_sad.gif
  • Posted by a hidden member.
    Log in to view his profile

    Oct 26, 2014 7:07 PM GMT
    Shhh... no one talk about Venezuela or Brazil.

    A better explanation of Bolivia's policies here - and also why Bolivia's recent success is in spite of rather than because ofthe policies as outlined above:
    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html
  • Posted by a hidden member.
    Log in to view his profile

    Oct 26, 2014 7:09 PM GMT
    roadbikeRob said
    Sinfakos saidI agree. This is a great example to the rest of the world, especially North America.
    Primarily the United States to follow. But Wall Street will never allow that to happenicon_mad.gificon_sad.gif


    Your stupidity when it comes to Wall Street or anything economics related knows no bounds. The irony is that while you attack others for even commenting on American politics when they're not American, you feel you have a handle of economics when it comes to Bolivia.

    Alas, you're a fool that serves a purpose icon_wink.gif
  • Posted by a hidden member.
    Log in to view his profile

    Oct 26, 2014 8:13 PM GMT
    riddler78 saidShhh... no one talk about Venezuela or Brazil.

    A better explanation of Bolivia's policies here - and also why Bolivia's recent success is in spite of rather than because ofthe policies as outlined above:
    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html



    Psssst, no one talk about Sudan or Malaysia either. Neither Germany nor Belgium.

    Because the topic is Bolivia.

    Speaking of Bolivia, she's doing well because the country has policies that spread the wealth and opportunities beyond a few cronies at the top.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 26, 2014 8:16 PM GMT
    GloriousCockster said
    riddler78 saidShhh... no one talk about Venezuela or Brazil.

    A better explanation of Bolivia's policies here - and also why Bolivia's recent success is in spite of rather than because ofthe policies as outlined above:
    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html



    Psssst, no one talk about Sudan or Malaysia either. Neither Germany nor Belgium.

    Because the topic is Bolivia.

    Speaking of Bolivia, she's doing well because the country has policies that spread the wealth and opportunities beyond a few cronies at the top.


    Riddler, however, is an example of the Wizard's First Rule.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 26, 2014 8:44 PM GMT
    GloriousCockster said
    riddler78 saidShhh... no one talk about Venezuela or Brazil.

    A better explanation of Bolivia's policies here - and also why Bolivia's recent success is in spite of rather than because ofthe policies as outlined above:
    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html



    Psssst, no one talk about Sudan or Malaysia either. Neither Germany nor Belgium.

    Because the topic is Bolivia.

    Speaking of Bolivia, she's doing well because the country has policies that spread the wealth and opportunities beyond a few cronies at the top.


    Nah - the topic is how Bolivia is the fastest growing economy supposedly because of their "socialist" policies for which they drew considerable inspiration from Venezuela. Too bad the math doesn't add up icon_wink.gif - but that's pretty typical of socialists who run into that tiny problem that they eventually run out of other people's money.

    Oh and you conveniently neglected to even note the follow up comment specifically addressing Bolivia:

    riddler78 saidA better explanation of Bolivia's policies here - and also why Bolivia's recent success is in spite of rather than because ofthe policies as outlined above:
    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html
  • Posted by a hidden member.
    Log in to view his profile

    Oct 26, 2014 9:05 PM GMT
    I read the Martin Hutchinson ramble you cite. Did you read his final sentence? Do you recommend his solution to the troubles of crony capitalism? Cash Handouts?
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 12:02 AM GMT
    GloriousCockster saidI read the Martin Hutchinson ramble you cite. Did you read his final sentence? Do you recommend his solution to the troubles of crony capitalism? Cash Handouts?


    I think that's far better than crony socialism/capitalism which is generally what happens when it comes to "benefits for the poor". You must have also missed the rest of the article or the facts that point to alternatives to why Bolivia isn't the fastest growing economy in the Americas *because* of their socialist policies.

    You must have also missed how both Venezuela and Brazil have aggressively attempted to pursue many of the same policies as neighbors but failed.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 12:05 AM GMT
    LOL Bolivia is also one of the biggest shitholes from South America. They are also one of the most least welcoming and racist countries. Also, Evo Morales is an asshole.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 12:18 AM GMT
    " his budgetary policies have been a model of restraint, far better than most other Latin American countries, or indeed than the rich nations of Europe, the US or Japan"

    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html

    Great title to this article:

    When socialism can 'work'


    More praise for Evo Morales, Bolivia's president:

    "The results of Bolivia's policies have been excellent. It has had an average growth rate of over 5% since he took office in 2006, with the 2008-09 recession survived with barely a hiccup. With the budget so close to balance, Bolivia's international debts are also modest"
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 12:43 AM GMT
    GloriousCockster said" his budgetary policies have been a model of restraint, far better than most other Latin American countries, or indeed than the rich nations of Europe, the US or Japan"

    http://www.atimes.com/atimes/Global_Economy/GECON-01-211014.html

    Great title to this article:

    When socialism can 'work'


    More praise for Evo Morales, Bolivia's president:

    "The results of Bolivia's policies have been excellent. It has had an average growth rate of over 5% since he took office in 2006, with the 2008-09 recession survived with barely a hiccup. With the budget so close to balance, Bolivia's international debts are also modest"


    Which again, are in spite of, rather than because of his socialist policies.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 12:56 AM GMT
    Evo Morales has redistributed wealth. That much is indisputable.

    Also indisputable is that Bolivia's economy has grown healthier during the same time period.

    It may be a coincidence but his actions and the positive results are not in conflict.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 4:00 PM GMT
    GloriousCockster saidEvo Morales has redistributed wealth. That much is indisputable.

    Also indisputable is that Bolivia's economy has grown healthier during the same time period.

    It may be a coincidence but his actions and the positive results are not in conflict.


    It is also indisputable that his neighbors who have implemented many of these same policies have had much worse economies and are getting worse. Some of his actions have resulted in positive results which are in conflict with some of his other actions that have or will hinder future growth.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 5:33 PM GMT
    "It is thus a paradox for supporters of free-market policies: how does it happen that Morales' statist policies are rewarded with such success, whereas better policies pursued earlier brought results that were no more than mediocre? "

    Free-Market Capitalism shouldn't be a religion but it seems to be bringing out the same fanaticism in its supporters.

    Evo Morales does not disprove the value of free markets and he is offering no threat to the world economy.

    Why the desperate attempt to prove him wrong?
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 5:55 PM GMT
    On one measure of market principles Bolivia should please conservatives.

    " taxes are pretty low in Bolivia, “The top individual income tax rate is 13 percent, and the top corporate tax rate is 25 percent.”For comparison, the United States’ top individual income tax rate and corporate tax rates are close to 40%."


    The more important factors in Bolivia's success seem to be securing natural resource profits within the country and investing in her lowest income citizens to raise them above crushing poverty.
  • tj85016

    Posts: 4123

    Oct 27, 2014 6:22 PM GMT
    didn't Butch and Sundance run to Bolivia?
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 7:57 PM GMT
    GloriousCockster said"It is thus a paradox for supporters of free-market policies: how does it happen that Morales' statist policies are rewarded with such success, whereas better policies pursued earlier brought results that were no more than mediocre? "

    Free-Market Capitalism shouldn't be a religion but it seems to be bringing out the same fanaticism in its supporters.

    Evo Morales does not disprove the value of free markets and he is offering no threat to the world economy.

    Why the desperate attempt to prove him wrong?


    Why your desperate attempt to prove policies that don't work elsewhere? On the other hand, I don't think it's desperate to point out the plain facts of what a failure those policies have been.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 9:16 PM GMT
    My views on all things including economics are quite diverse and I have no agenda to sell on this site nor in anything I write.
    I am simply curious when I hear stories of what seems to be working. I want to know more rather than crush the story before it can be explored.
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 9:42 PM GMT
    GloriousCockster saidMy views on all things including economics are quite diverse and I have no agenda to sell on this site nor in anything I write.
    I am simply curious when I hear stories of what seems to be working. I want to know more rather than crush the story before it can be explored.


    Isn't that what is being done here? Exploring to me suggests considering an idea and looking at where and how it could or does fail.

    The hypothesis presented in the OP fails on its face...
  • Posted by a hidden member.
    Log in to view his profile

    Oct 27, 2014 10:13 PM GMT
    Bolivia won't offer a macro argument for any position as it is a small economy and one that started so very poor. One could argue that there was nowhere but up for Bolivia.

    Brazil is a better example. President Rousseff has certainly achieved positive results with a modified approach to spreading the wealth. It looks like she is also intent upon appeasing the business community. A wise move.
  • roadbikeRob

    Posts: 14336

    Oct 27, 2014 10:45 PM GMT
    tj85016 saiddidn't Butch and Sundance run to Bolivia?
    No, I think he went to Paraguay which is much poorer than Bolivia and becoming a major destination for hydrofracking for oil and gas.