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Thursday, March 8, 2012

Malawian Chiefs and the Kwacha Devaluation

It has been a while since I wrote something specific about Malawi. So much has happened in the past few years that it is difficult to pull the threads together. Perhaps a good place to start is a topic  I read with interest that local chiefs in Malawi are protesting the forced devaluation of the Kwacha and in response,  the local professionally trained economists have lambasted them as ignorant on the topic and should best remain on their chief's stools with their mouths shut.

Why this is, I do not understand. Isn't it time that economists welcomed everyone to the debate, that way we can all appreciate better exactly HOW global economics work without calling someone ignorant on the topic. After all, the devaluation will affect us all... just my small thoughts for the day....