What happened to the Workshop of West Africa?

Despite recent decades of economic growth, absolute poverty is on the rise in Nigeria, as population increases continue to outpace the reduction in poverty rates. Manufacturing industries, which have the potential to absorb large numbers of workers into better paying jobs, have expanded only very modestly, and most workers remain employed in low productivity sectors … Continue reading What happened to the Workshop of West Africa?

Pinochet’s inequality miracle

Economists don’t agree about the economics of dictatorships: some claim that the lack of checks on the executive and the widespread repression of political voice provide an institutional framework encouraging rent-seeking and stifling growth, whereas others think that it is precisely the lack of political accountability to the electorate that allows for economic policies that … Continue reading Pinochet’s inequality miracle