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(LUSAKATIMES) Zambia’s human development has stagnated for over 20 years

COMMENT - Neoliberal economics are not about 'development', but about unrestricted exploitation of human and natural resources, for the accumulation of wealth in fewer and fewer hands. That is why it is the ideology of the trillionairs.

Zambia’s human development has stagnated for over 20 years
TIME PUBLISHED - Thursday, December 8, 2011, 4:21 pm

Zambia’s human development has stagnated for over twenty years. This is as a result of inappropriate macro-economic policies implemented in the 1970s and 1980s, which caused a decline in economic growth.

This has been revealed in the latest United Nations Development Programme-UNDP Report on Human Development.

The report states that the structural adjustment programmes sharply increased unemployment, reduced real wages and significantly increased the incidence of extreme poverty.

The Report says the positive economic growth which the country has experienced in recent years, is not enough to fully redress the decline in people’s standards of living.

Zambia’s human development index value for 2010 was 0.395 putting the country in the low human development category.

The country ranked 150 out of 169 countries.

Labels: NEOLIBERALISM

posted by MrK @ 6:22 AM