Without a doubt, the week’s top story is the opposition’s continuing demonstrations in Venezuela, eclipsing even the capture in Mexico of Chapo Guzmán, the most-wanted criminal of the hemisphere (and who will face charges in at least three US federal courts), . You can click on #LaSalida for all my posts covering the story.
. . . three deep-lying explanations help to illuminate the country’s diminishment. Firstly, Argentina may have been rich 100 years ago but it was not modern. That made adjustment hard when external shocks hit. The second theory stresses the role of trade policy. Third, when it needed to change, Argentina lacked the institutions to create successful policies.
“We have spent 50 years thinking about maintaining government spending, not about investing to grow,” says Fernando de la Rúa, a former president who resigned during the 2001 crisis.
This short-termism distinguishes Argentina from other Latin American countries that have suffered institutional breakdowns. Chile’s military dictatorship was a catastrophic fracture with democracy but it introduced long-lasting reforms. Mexico’s Institutional Revolutionary Party governed steadily for most of the 20th century. “In Argentina institution-building has taken the form of very quick and clientilist redistribution,” says Daron Acemoglu of the Massachusetts Institute of Technology.
Bolivia under water: Why no national disaster declared amid floods?
The Bolivian government says its massive aid operation, which includes food and tents, is well underway, but not everyone is satisfied with the response.
Optics? THE ROUSSEFF TWO STEP
Brazil Sidestepping to the Right via Instapundit.
Haitians will not be stripped of Dominican Republic citizenship
Stalled Spending Chokes Mexico’s Growth
Mexico posted its worst economic performance in 2013 since the global recession of 2009, thanks in part to massive government spending delays that businesses struggled to overcome.
A canal across Nicaragua: Is this for real? Here’s a hint: “The price tag alone is nearly four times Nicaragua’s economic output.”
Puerto Rico Plans $2.86 Billion Offering for 16 Months of Cash, supposedly “to regain financial footing” until June 2015. And then what?
Venezuela: chaos and thuggery take the place of the pretty revolution
Hugo Chávez’s dream world has become a nightmare of shot-down protesters, jailed oppositionists, economic meltdown and a brutal war waged against a defiant middle class
The week’s posts, radio, and podcast:
Venezuela: #24F Barricading the country
At Da Tech Guy: Venezuela: “We must become the media”
This week’s podcast had to be cancelled due to software difficulties at Blog Talk Radio.