BOGOTÁ: Cocaine production is rising; peace talks with leftist guerrillas have stalled; America’s $1.8 billion “Plan Colombia” - meant to train and equip special anti-drug battalions to eradicate coca production - is portrayed as a clumsy, self-serving intervention in the affairs of a vulnerable neighbor. So alarming are conditions in Colombia nowadays that some Americans worry about the country becoming another Vietnam.
How different it all seemed a decade ago! Back then, Colombians rejoiced at the prospects for peace, political change and economic progress. Indeed, newly elected president Cesar Gaviria, a youthful Kennedyesqe figure, ended his inaugural address with: “Colombians: welcome to the future”.
Demobilization of one large rebel army, the EPL, was so recent a memory that progress with the other two main guerrilla forces fighting in the country’s seemingly endless guerrilla wars seemed certain. Both the National Liberation Army (ELN) and the Revolutionary Armed Forces of Colombia (FARC) were involved throughout 1991-92 in apparently serious conversations intended to end their revolts.
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While carbon pricing and industrial policies may have enabled policymakers in the United States and Europe to avoid difficult political choices, we cannot rely on these tools to achieve crucial climate goals. Climate policies must move away from focusing on green taxes and subsidies and enter the age of politics.
explains why achieving climate goals requires a broader combination of sector-specific policy instruments.
The long-standing economic consensus that interest rates would remain low indefinitely, making debt cost-free, is no longer tenable. Even if inflation declines, soaring debt levels, deglobalization, and populist pressures will keep rates higher for the next decade than they were in the decade following the 2008 financial crisis.
thinks that policymakers and economists must reassess their beliefs in light of current market realities.
BOGOTÁ: Cocaine production is rising; peace talks with leftist guerrillas have stalled; America’s $1.8 billion “Plan Colombia” - meant to train and equip special anti-drug battalions to eradicate coca production - is portrayed as a clumsy, self-serving intervention in the affairs of a vulnerable neighbor. So alarming are conditions in Colombia nowadays that some Americans worry about the country becoming another Vietnam.
How different it all seemed a decade ago! Back then, Colombians rejoiced at the prospects for peace, political change and economic progress. Indeed, newly elected president Cesar Gaviria, a youthful Kennedyesqe figure, ended his inaugural address with: “Colombians: welcome to the future”.
Demobilization of one large rebel army, the EPL, was so recent a memory that progress with the other two main guerrilla forces fighting in the country’s seemingly endless guerrilla wars seemed certain. Both the National Liberation Army (ELN) and the Revolutionary Armed Forces of Colombia (FARC) were involved throughout 1991-92 in apparently serious conversations intended to end their revolts.
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