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lauren birch

on 5 May 2010

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Transcript of nicaragua

Nicaragua Unemployment *underemployment was 45.6% in 2008 Standard of Living Credits:

World Factbook
International Monetary Fund
Today, Nicaragua's GDP per capita is $2800 (in intl $ and adjusted to inflation)

POOR WITHIN NICARAGUA? currently is "67% free"
60% of the country's exports is from agriculture
agriculture is an easy business to be a part of
it will generate competition within the country
it will give a chance to the poor to become wealthy
Nicaragua is currently benefitting from a free market
As Nicaragua is becoming more democratic capitalism will be more effective
would potentially provide more jobs for the unemployed
"If there is a free market, there needs to be a system in which people are free to get rich, so the poor can stop being poor, so the poor can become middle class and so the middle class can become business owners and be better off.”
class tension - possible outbreak or unhealthy rivalry?
government is quite "authoritarian" and can take control whenever they want
due to agriculture being one of Nicaragua's main exports it is important to be able to sustain this business. if capitalism occurs competition could result in the exploitation of land.
many of the poor are illiterate and therefore aren't smart enough to work hard and make a living Yes No 60% of Nicaragua's exports is agriculture.
The main industries in Nicaragua are;
food processing
wood Their main goods sold are;
tabasco GDP Inflation GDP per capita Due to the Sandinistas taking over in 1979 inflation dramatically increased. The Sandanistas.... anti-capitalist state intervention workers were protected from market forces by subsidies for basic food, healthcare and education. the government connects the people of
the country to global companies individuals enter markets directly to compete freely with each other for employment or commodities state intervention in market mechanisms is unnecessary and
undesirable shifted from a government-centred
view to a market-centered view After the Sandinistas.... (post 1990s) Conclusion Due to historic evidence capitalism is good for the country of Nicaragua.
As displayed after the Sandinistas were replaced with a more free-market
economic leader in the 1990s both GDP and employment rates increased. Now, as Nicaragua have a well reformed legal system, plenty of infrastructure (64%
of rural areas have roads), and the ability to become a capitalist state, capitalism would
be beneficial to Nicaragua. This is because it will increase competition between people,
causing the economy to grow and compete on a global level. Banking (which became
popular after the government allowed privatization in 1990) allows people to borrow
money in order to start their businesses.
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