Who is J. Sachs?

[James Devine]

I asked Tom Kruse, an economist who's not on lbo-talk but lives in Bolivia,
for comments on the proposition that Sachs' policy [the Sachsy policy?]
worked to solve the problems of the Bolivian economy.

he responded: >Depends on what you mean by "worked".  I'd only suggest it
"worked" (a) in the limited sense that Sachs noted: it went from being a
highly dependent, under-developed, miserable situation with inflation to
one without; 


> (b) it "worked" to radically reduce the power of labor generally,
achieved only through militarization of work centers, forcible relocation
and repression and internal exile of labor leaders; 


> plus (c) I'd add the caveat stability achieved by Sachs & Co. may have
more that a little to do with changes in the financial rules of the game
that allowed for repatriation of capital without restrictions or questions,
thus channeling narco-trafficking money through central bank coffers.<


>Tom Kruse / Casilla 5812 / Cochabamba, Bolivia
>Tel/Fax: (591-4) 248242
>Email: tkruse at albatros.cnb.net

Jim Devine jdevine at popmail.lmu.edu &
http://clawww.lmu.edu/Departments/ECON/jdevine.html