"One study showed that anti-capitalist populists in Latin American countries such as Venezuela, Nicaragua and Bolivia on average make their countries 20 per cent poorer than comparable countries. A more comprehensive database of fifty populist leaders on both the right and the left (sometimes democratically elected), between 1900 and 2018, reveals that in the long run it is almost impossible to find someone who creates the thriving economy they all promise. With populists in power, the economy fares worse both in relation to the country’s previous trend and the global average. Fifteen years after they take control, their economies are, on average, more than a tenth smaller than comparable economies. The database shows that the economy does just as badly under right-wing and left-wing populists; the difference is that right-wing populists also tend to increase income inequality."
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Johan Norberg, The Capitalist Manifesto: Why the Global Free Market Will Save the World (2023)
https://en.wikiquote.org/wiki/Nicaragua
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Nicaragua
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