41–48 of 48 posts
If Milei is turning away from the economic independence offered by BRICS to sell off all state assets to Blackrock he is a traitor.
What is going on in Argentina?
https://news.ycombinator.com/item?id=39452866
Poverty in Argentina hits 20-year high at 57.4%, study says
Earlier quoted context omitted.
I genuinely don’t understand. Shouldn’t we expect bias regardless of their orientation? Conservative, libertarian, liberal, progressive, Marxist - whatever ideology someone has, whether it has a name or not, whether it is coherent or not, it’s going to contain their bias. Not to be too reductive but that’s how human beings work.
“All those people who disagree with me are biased” is also how human beings work.
To be clear, this is a liberal economics blog, so expect at least some bias.
I genuinely don’t understand. Shouldn’t we expect bias regardless of their orientation? Conservative, libertarian, liberal, progressive, Marxist - whatever ideology someone has, whether it has a name or not, whether it is coherent or not, it’s going to contain their bias. Not to be too reductive but that’s how human beings work.
Earlier quoted context omitted.
Brazil cured its hyperinflation by what could be described as the opposite of shock therapy.
interesting - where can I read more?
The thing about Plano Real is really about its previous context. In the preceding 10 years, government tried fighting hyperinflation by introducing measures that, by their nature, could not be revealed to society beforehand. They did things like freeze prices of goods, blanket freezes of bank deposits and savings, etc. None of that worked, either because implementing price freezes was impractical and easily circumvented, or because freezing deposits hurt people's ability to invest, etc.
For Plano real, everything was laid out by the team proposing it far in advance, everything was clearly communicated by the government, all dates of transitions and rules were known in advance by all actors of the economy.
Really, the only unknown variable was the final conversion rate, but everyone knew it was going to kind of resemble the dollar ratio. In fact, I remember it crisp in my mind (I was a child), the final rate was CR$ 2750 = 1 R$.
And it worked.
Oh, and we also won the world cup that year, whiiiich in my mind, helped.