Current Situation

Joseph Schumpeter described the attack on the biomass of culture by unrestrained economic growth as “creative destruction” in the turmoil it fosters on children and communities.  Nicaragua is on the edge of a cliff of economic growth, with inflation down to 10% from 10,000%, and the IMF having forgiven millions in debt she is ripe for a new beginning. But those who would profit from her will come into direct conflict with the people themselves, who are predominantly liberal having suffered under the Somoza regime with no rights to property for fifty years.  As a result even though the daily wage is $1.50-3.50, half of Nicaragua is unionized, and Fair Trade Zones operated by local people have sprung up beside Free Trade Zones, offering twice the wages for one-fifth the work and cooperative options.