
Experience has taught us that once inflation is ingrained in an economy, getting rid of it is no picnic – even if you are an economic superpower, Moises Naim argues in an opinion piece for El Pais
It’s easy to discount what Latin America may have to teach the world about running an economy. After all, what can a region perpetually embroiled in intractable problems possibly teach us? In this part of the world turmoil is the norm. In reality, though, the basic problem in Latin America is not its chronic economic instability, but the inability of its leaders to learn from experience, and their propensity to keep pushing policies that have already proven disastrous. I call it ideological necrophilia – the passionate commitment to dead ideas.
Read the full article here.