A Lesson in Crony Capitalism

[Scoobes]

Kasz216 said:

Scoobes said:

kowenicki said:
Kirchner is borderline insane in my opinion.

You could probably take the word borderline out and this sentence would work for me.

Ah stupid WSJ.  Forgot they do that.

 

Anyway,  they have two currency exchange rates.  One if the goverment likes you, one if it doesn't.

It keeps putting up tarrifs and currency rules that make it so that manufacturing be brought there anymore, so they have no maufacturing jobbs.

They took over the statistical reporting agency, so inflation rates are artificially reported low, at such a ludicrisly bad reported level, official reporting sights refuse to use the number.

And they plan to take over their central bank to use it's deposits to pay off it's debt, which will only make their problems worse.

 

Essentially Aregentina is a mess because they've resorted to Classical keynsian economics and massive government intervention.

Classical Keynsian economics meaning economics as Keynes knew it, and not Neo Keynesism which is usually what people talk about now when they talk about Keynsiasm.

It's really no wonder Classical Keynsiniasm has led them to Stagflation, as that's exactly what happened to the US under Carter.  (Classical Keynism  beleived that stagflation couldn't occur.)

Ok, that sounds like a cluster fuck of epic proprotions.

Don't know much about Keynsian economics so the differences between classic and neo are a bit above my head.