Book contents
- Capitalism and Development
- Capitalism and Development
- Copyright page
- Contents
- Preface
- Acknowledgments
- 1The Populist Gamble
- 2The Growth Dilemma
- 3Illusions Shattered
- 4Locked in Stagnation
- 5The State as an Architect of Progress
- 6The Urban Paradox
- 7Building Prosperity
- 8Global Justice
- 9Human Capital
- 10Corporate Titans
- 11The Path Forward
- Appendix
- Bibliography
- Index
1 - The Populist Gamble
Short-Term Gains, Long-Term Decline
Published online by Cambridge University Press: 09 July 2026
Book contents
- Capitalism and Development
- Capitalism and Development
- Copyright page
- Contents
- Preface
- Acknowledgments
- 1The Populist Gamble
- 2The Growth Dilemma
- 3Illusions Shattered
- 4Locked in Stagnation
- 5The State as an Architect of Progress
- 6The Urban Paradox
- 7Building Prosperity
- 8Global Justice
- 9Human Capital
- 10Corporate Titans
- 11The Path Forward
- Appendix
- Bibliography
- Index
Summary
Populist leaders often rise to power by promising a utopian future and radical change. However, their reliance on demagoguery, protectionism, and state control frequently undermines long-term prosperity. This chapter explores how populist governance weakens institutions, disrupts markets, and exacerbates inequality. Drawing examples from Latin America and beyond, it warns that populism reshapes democracy by amplifying grievances and concentrating power. Strong institutions – not demagoguery – are essential for development.
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- Capitalism and DevelopmentSteering Markets Toward Fairness, pp. 1 - 46Publisher: Cambridge University PressPrint publication year: 2026
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