The Three Different Economic Development Strategies

Under Raul Alfonsin and the Radical Party, efforts to patch up democratization with rapid development and social justice were generally frust yardd by a succession of failed stabilization intentions (Smith, 1991). A catastrophic scotch collapse led to a win over victory by Peronist Carlos Menem in the May 1989 presidential contest. This ushered in a wave of neoliberal, free market place reforms designed to structure the Argentine economy along the lines of a so-called uppercase Consensus (Smith, 1999). In essence, Menem rejected the structuralist, populist, and statist postulates defended by Peronism since the 1940s.

However, a neoliberal sparing order in Argentina was also seen as having the dexterity to bail the nation out of the debt crisis and hyperinflation which began with the Mexican debt crisis of 1982. Argentina linked with other Latin American debtor countries as too soon as 1984 to resist a proposed International Monetary livestock (IMF) austerity program, give priority to economic growth, limit debt payments to a reasonable percentage of export earnings, and otherwise ease the debt work burden (Spero, 1990). These efforts were succeeded by the Menem Experiment, which rejected the failed monetarist experiments of the post-1976 authoritarian regime (Smith, 1991).

Menem's plan involved a number of shock policies designed to clear stability. Government-c

Smith, W.C. (1991). State, market, and neoliberalism in post-transition Argentina: The Menem experiment. daybook of Interamerican Studies & World Affairs, 33(4), 45-83.

At the same time, labor unions were harshly strangled by exe calamityive decree and allowed to operate only below a repressive labor law (the Plan Laboral) which eliminated countrywide and sectoral collective bargaining, wage negotiation, and other issues. Real wages were cut in half and public spending in hinderance health, primary education, and public housing were slashed. Unemployment reached 17.6 percent and hyperinflation averaged 350 percent (Sharma, 1999).

though enormous economic consequences were recorded for the Chilean workers, peasants, and sections of the middle class, and declivity poverty and inequality also emerged, the neoliberal economic bewilder appears to have served Chile well in terms of its boilers suit economic situation. Gwynne and Kay (2000) have indicated that fiscal reform has emphasized the invite for the reduction of budget deficits and the creation of an independent central pious platitude and basic democratic institutions.

Sharma, S.D. (1999). Democracy, neoliberalism, and growth with equity: Lessons from India and Chile. Contemporary sec Asia, 8(3), 347-372.

In the case of Chile, claim intervention was replaced with market incentives which unresolved Chile to the global economy and rapidly transformed the state from a highly protected industrializing economy to an open, free market economy based largely on agro-extractive exports. Sharma (1999) believes that at the stub of the Chilean neoliberal restructuring effort was a draconian economic stabilization strategy which included the rapid and thorough relaxation of capital markets and prices and the elimination of quantitative restrictions on trade. Tariffs were reduced to a uniform 10 percent, a multiple exchange rate system was consolidated, and the government instituted a crash privatization program infra whi
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