Joseph Stiglitz, former Chief Economist of World Bank, to advise Lugo on economic policy?

Joseph Stiglitz will be on hand for Fernando Lugo's inauguration later this month says Global Voices Online. If he does get his wish, he will have the opportunity to shape new economic strategy in Paraguay, tackling questions of poverty and underdevelopment: foreign ownership and control of its agriculture (much of it through underhanded means), unequal land distribution (to an extent shocking even for Latin America), poor management of dynamic energy resources, financial policies that encourage capital outflow rather than repatriation of Paraguay-produced profits.

The new "Chicago Boys"? Chile's economic restructuring in the 1970s was steered by advisers trained at the University of Chicago, who implemented then-novel neoliberal changes to jumpstart the economy. Stiglitz, who holds a Nobel prize in economics, has extensive experience crafting and analyzing the results of the new economic model and his recent work (Globalization and its Discontents, Making Globalization Work, The Three Trillion Dollar War) offers a nuanced account and assessment of its successes and failures. He ultimately falls on the side of critique.

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