Monday, June 14, 2010

The World's 10 worst economies

Forbes has a good piece on this with a slideshow of the 10 worst economies of the world and other slides worth checking out.

.....As the world focuses on Greece and the rest of the so-called PIIGs --Portugal, Italy and Ireland--in their fight to reverse years of irresponsible fiscal policies, another group of nations make them look positively well-managed. Forbes screened IMF data for countries that have low and declining per-capita GDP, high trade deficits and high inflation, all indicators of bad economic management regardless of the country's inherent wealth.

All have at least one trait in common: Their governments discourage private investment--and economic growth--through policies of crony capitalism, expropriation or arbitrary enforcement of the laws. That makes it hard to generate hard currency to pay off government debt and discourages citizens from investing in education to improve their own economic lot...

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