By Berhane Woldu,
ERITREA’s economic development strategy is no different than what the USA and Europe did in their early development strategy and ongoing regulated market economy. They were protectionist with government directed economy and huge subsides. Ann Markusen, in Dismantling the Cold War Economy, talks about the excesses of the Pentagon system and the new global economy.
The US policy on industry like all industrial western countries is based on the assumption that private enterprise can survive only if there is extensive government intervention. Continue reading Market-Capitalism: What’s in Store for Eritrea?