It's clear now why the coup regime allowed the elections to take place. The president-elect, Luis Arce, has revealed his commitment to advancing the interests of Bolivia’s capitalist ruling class. He has pledged to form a unity government with the bourgeois sectors that headed the coup and staffed his cabinet with a group of technocrats. .
My perhaps poorly expressed point was that in Nazi Germany, the party was called the National Socialist Party as I recall.
Yes it was called that. A poor name for the political movement and confusing to read in the thread. Thanks for clarifying.
Austerity never works. The drop in income from from oil and gas has to be killing them. There's no quick fix for that, not that austerity has ever worked. The long term answer is to diversify the economy, which isn't easy, esp. with neighbors like us. https://en.wikipedia.org/wiki/Boliv...onetary_Fund#Bolivia_and_the_IMF_2005–present
Which explains why businesses have to become austere from time to time in order to survive. Governments don't have to worry about survival but austerity and smaller government would be a winner for all in my view.
"In the longer term, reduced government spending can reduce GDP growth if, for example, cuts to education spending leave a country's workforce less able to do high-skilled jobs or if cuts to infrastructure investment impose greater costs on business than they saved through lower taxes. In both cases, if reduced government spending leads to reduced GDP growth, austerity may lead to a higher debt-to-GDP ratio than the alternative of the government running a higher budget deficit. In the aftermath of the Great Recession, for instance, austerity measures in many European countries were followed by rising unemployment and slower GDP growth. The result was increased debt-to-GDP ratios despite reductions in budget deficits." https://en.wikipedia.org/wiki/Austerity While austerity can work, it usually doesn't happen when it would work. The Modern World is largely a package deal. Which means what you want would guarantee failure.
