There is an intriguing new paradigm stalking the developing world, of politicians, national governments renationalising the environment and economic development.

In light of financial mis-management in the developed world, some southern American governments are realising that externally-imposed policies, systems and principles of economic development, aid and structural adjustment [sold to them by these same people who created the financial crisis] are also founded on quicksand. The governments of Bolivia, Ecuador, Nicaragua and Venezuela have all taken steps back from a globalised system of economic development to a more nationalised system.

In these natural resource rich nations, it doesn’t take a great leap of economic thinking to begin re-investing resource rents in locally sustainable ways. Not in ways which perpetuate economic slavery to past loans and agreements with previous US administrations. And in ways that conform to good environmental economic management of non-renewable natural resources. Bolivia has renationalised natural gas reserves. And when Ecuadorians re-elected Rafael Correa on April 26, they fully endorsing his policies of “21st Century Socialism” and collectively lay blame at capitalism’s feet for the global economic crisis. Operationally, Correa’s New Socialism means refusing to repay some foreign debts and significantly increasing social programs for the poor. ACAIJKIB8CAGQVIEYCAMLUMJGCAH1JC58CAPFV6I4CAPKWE8ECAJBVE28CAWJWA4UCA04KWHLCABYYH2VCAI2MRL7CAI0HP6XCAS46ADKCA7ADKW4CA4GWZWECAWWIX3ICA28LM4DCAMBG11R

But the principles appear good, that by taking responsibility for their problems, and matching these solutions to their opportunities, that there is stronger economic systems and hope of being permanently de-linked from their developed northern cousins. There are the skeptics of course, but SustainableSlump is watching in tempered awe.

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