“Good afternoon, I want to go to Osu, how much?” “GHS 10.00,” says the taxi driver.” “But that’s almost double the price from this time last year!” “Yes madame, but the price of fuel has gone up!” After a bit of haggling, I get him to reduce the fare […]
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What is the difference between austerity policies and the politics of austerity? At a time when Europe is pondering how to deal with its debt crisis problem, we look back at the experience of Latin America during the 1980s Latin American debt crisis. Understanding what happened then, and recognizing the advances in economics and government, may yield some lessons for Europe.