For years, Ethiopia was touted by globalists and corporate opportunists as the poster child of “economic development”. In the fanciful minds of neoliberals and neocons, all developing nations had to do was “liberalize” their economies and “privatize” their resources and magically society would be transformed and a middle-class will be created that will enrich everybody. What they wanted us to believe was the same bankrupt ideology peddled by Bush and his “conservative” cronies in the 1990s, “a rising tide lifts all boats” they said, as they pushed policies that enriched the few in order to benefit the rest.
The last two decades have proven the opposite; instead of enriching society, globalism has become the key driver of social inequalities around the world. Top-down investment does not work; shoveling money to the 1% while giving austerity to the vast majority is a blueprint for economic disaster. Statisticians can perform their magic and point to “economic indicators” like GDP growth, market valuations and “consumer confidence”, but if the poor, working and middle-class are not sharing in the wealth, what we get is a dystopian society where the rich live like sultans while too many are turned into beggars....continued..
Read full article at: https://ethiopians4cm.org/crisis-in-ethiopia-2019-7-14/
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