Don’t Trust Technocrats

When developing countries fail to institute economic reforms recommended by expert technocrats, they are usually dismissed as populist and unenlightened, and will suffer consequences. But the fact of the matter is, says economist Joseph Stiglitz, many technocratic suggestions are not very appropriate given the specifics of developing countries. Economic policies are not neutral but political, and countries must worry about equitable distribution and their overall economic status. Since economic integration must follow local patterns, developing countries are often right to be suspicious of so-called technocratic "expertise." – YaleGlobal