Andres Oppenheimer
A key
According to a new study by the
In its annual Preliminary Overview report released Wednesday, ECLAC made the following forecasts for the coming year:
-
-
-
-
-
-
-
-
-
-
-
According to the report,
ECLAC's new estimate is in sharp contrast with claims by several Latin American leaders in recent months that their countries were immune to effects of the 2008 crisis in
High international commodity prices, triggered by rising purchases by
My opinion: By itself, the slight decline in ECLAC's projections for next year's economic growth in the region shouldn't be cause for alarm. The region's economies, although they are beginning to lose steam, will keep growing at higher rates than the industrialized world.
What's much more worrying, frustrating, and ominous, is that with a few exceptions -- such as
We're living in a global knowledge economy, where small countries like
It's time for international economic research groups to change their measuring standards, and create a new measurement that could be called the Gross Education Product (GEP) that should be calculated annually alongside the existing Gross Domestic Product (GDP).
If they keep focusing just on the GDP, which measures countries' total economic activity, they will never make a long-term dent in poverty reduction, because the only way to lift people from poverty in the long run is by giving them a good quality education that will allow them to access well paying jobs.
If
So here's my year-end proposition for international economic think tanks: create a Gross Education Product, so that next year -- at this time -- you can give us both GDP and GEP figures. Both should go together.
The current measuring standard is too short-sighted, and leads countries to forget focusing on what matters most.
- American Border Law Enforcement Uses More Military Equipment
- 2012 Anything But Boring in the Americas
- Latin America Still Growing, But Economic Fiesta Is Over
- Latin America May Split into Pacific and Atlantic Blocs
- Cuba Asking Advice from IMF? Don't Laugh
- Mexico's Drug Cartels are no 'Terrorist Insurgency'
- Canada and The Kyoto Protocol: Who Says Quitters Never Win?
- Democratic Speed Bumps in Latin America
- Argentina: Lessons of Default
- Latin America is Beating Poverty -- Sort Of
- Brazil and Colombia: An Unexpected Alliance
- China and the End of the Monroe Doctrine
- Major Economies Headed for Slowdown
- Is the National Security Complex Too Big to Fail?
- A Call for an Enlightened Foreign Policy toward Latin America
- The Inequality Behind Chile's Prosperity
- The Mexican Drug Cartel Threat in Central America
- FARC Leader Killed in Colombia
- Helping Cuban Reforms through Agricultural Trade
- A 'Major Win' for Panamanian Corruption
- Mexico Seeks to Extradite Americans Linked to 'Operation Fast And Furious'
- Latin American Politicians Renew Suggestions to Legalize Drugs
- Never-Ending Drug War Moves to Central America
- Venezuela Among World Leaders in Red Tape
- OAS Makes Bad 'Error' in Nicaragua
- Condoleezza Rice Book Shows 'Inattention' to Latin America
- Anonymous vs. Zetas Amid Mexico's Cartel Violence
- Child Poverty and Access to Education: Hidden Costs on the Hispanic Community
- Rafael Correa Remains the Strongest Leader in Ecuador, but his Influence is Waning
- Brazil's Truth and Reconciliation Commission
- Panamanian Corruption Spreads to Land Holdings and Prominent Politicians
- Cuban Economic Reform Allows Private Home Sales
- Cuba's Communist Party Condemns U.S. Immigration Policy
- Submarine Near Venezuela Prompts Accusations Against United States
Copyright © 2012 The Miami Herald Distributed by Tribune Media Services