Book Discussion

One of the most compelling books written in recent years about Latin America is Sebastián Edwards’s Left Behind: Latin America and the False Promise of Populism. Here he discusses the thesis of the book. Main point: populism fails in the long term to generate efficiency, growth, and investment; and effective institutions matter.  What’s wrong with populism? Edwards: “Everything.  About 20 years ago, the late Rudi Dornbusch and I defined it as a set of policies that aim at obtaining short-term gain and neglecting long-term sustainability. Populist experiences invariably end in inflation, shortages and crisis.” He compares the Venezuelan experience with other countries in the region.

http://today.ucla.edu/portal/ut/10-questions-for-sebasti-n-edwards-169757.aspx