A surprising answer from Zimbabwe. Obviously, key to a new round of ISI would be basic-needs production (not the standard luxury goods protection). The normally despicable United Nations Development Programme allowed local economists to write their February 2000 Human Development Report. The progressives amongst them (leading civil-society intellectuals associated with the Poverty Reduction Forum and Zimbabwe Institute of Development Studies) made six recommendations for government economic development policy--the last two of which are worth citing in full--which, believe it or not, were actually included as the report's conclusion:
1) Overall objective: restore confidence by
creating conditions of fulfillment of basic human
material and social needs, and by opening up
democratic space for dialogue in all sectors of
life...
2) The hitherto neglected responsibility of
ensuring conditions for the reproduction of
labour and ensuring a life of dignity must form
the core of the new strategy...
3) Better integration of gender concerns...
4) A well-focused land reform and agricultural
regulation policy framework are necessary...
5) Restore production and safeguard the
domestic market from external competition in
respect of essential commodities and services, as
a basic complement to fiscal and monetary tools.
Probably considered subsidies and tariff
protection might be necessary.
6) Carry out an audit of imports and introduce
measures to cut down all inessential imports and
luxury products. Carry out a similar audit of
debt, retire illegitimate debts, and negotiate with
the creditors for the payment of the legitimately
incurred debts on the principle of joint
responsibility. Put in place capital controls,
regulate the banking sector, and review financial
liberalisation measures to develop an
indigenously led banking sector. UNDP/PRF/IDS
(2000: 81)
The UNDP/PRF/IDS (2000: 83) report concludes by noting that such recommendations hark back to earlier periods of state intervention:
Zimbabwe has a way out as it moves into the
third decade of its Independence. It has a
rich dual heritage. One, ironically, is the
heritage left by the UDI regime that built
itself up on a largely internally-oriented
economy with minimal dependence on the
outside world. Its illegitimacy was the cause
of its demise. The second legacy is that of
Chimurenga (liberation war). That spirit is
still and often not properly channelled. The
people of Zimbabwe can, once again, assert
their primacy and with sober and deliberate
intervention in national matters bring back
the state and economy to serving first and
foremost the interests of the people based on
people's efforts and resources, and not one
based on foreign dependence.