“What Brazil teaches is that the promise of ’emerging market’ countries was often wishful thinking. The presumption was that these countries, especially the BRICs, would inexorably narrow the gap with advanced societies. They would adopt known technologies, expand their education systems and improve local management. What got lost in this simplistic vision was the impact of national differences – of values, institutions, politics, policies – on smooth economic growth,” writes Robert J. Samuelson for the Washington Post.
Most Americans assume all is well with the world – without giving it a second thought. They are waiting for truly terrible things to happen, before they will do anything.