Sunday, June 14, 2009

#72 - Learn more about El Salvador

This is probably one of my dorkier 101 things to do, but there's a reason why I included this.

To start, I was already going to write a paper about El Salvador, so what better way to cross off something from my list that I had to hand in at some point anyway! But, furthermore, I included this on my list because it's something important to me. Coming from a family that originated in El Salvador, I knew very little about the economy and its political and economic reforms. Through researching and speaking with my Uncle who lives in El Salvador, I was able to understand the economic process of a country that is struggling to develop.

I won't go into extreme details of its system, but I will mention this: neo-liberalism and its economic ideologies do not work for developing countries. Implementing privatization, opening the markets for outside competition, and decreasing the role of government in economics are not answers to development, nor are they answers to eliminating poverty. After much research and hearing a first-hand account of how privatization and dollarization has increased the gap between the rich and the poor, one has to question why certain IR scholars and economic organizations like the IMF and World Bank advocate for the use of neo-liberal economics. Yes, neo-liberalism may work in the West, but it works for a reason - we already have established a capitalistic system that has been working for years. However, implementing this immediately into developing countries without guidelines, without resources, and with structural reforms inhibits the country's ability to progress.

Anyway, I could go on forever, but I won't. I do, however, hope that one day neo-liberalism will cease to exist.

Lady S.

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