Mexico's Public Debt and the Mexican RTC
by Roberto Valenzeula
For the last 50 years, Valenzuela says, the Mexican revolution has served as the role model for the development of Mexico; yet Mexico is still a third world nation and a very poor one at that. Mexico has what is called a mixed economy, the worst of the economic recipes says Valenzuela. Like the rest of Latin America, he says, Mexico has been kept in the Stone Age by corrupt politicians applying Keynesianism, socialism, populism, and statism.
He did not approve of either the nationalization of Mexico's in bank 1982 or what happened after they were reprivatized in 1991, which led to a huge, unsound expansion of credit. This was followed by a collapse of the economy from which Mexico has not recovered. Mexico must forge a new path if it is to escape from poverty.
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