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The Jones Act has been a staple of the American political landscape for over one hundred years. It has also created many unintended consequences.
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“Despite its controversial nature, full dollarization remains the monetary regime with the most potential for long-term stability in Argentina. It offers a credible pathway to restore confidence and put the country back on a sustainable economic trajectory.” ~Nicolás Cachanosky
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“Raising economic growth prospects through policy is difficult. But Britain is now so far behind the United States and the technological frontier, that removing self-imposed barriers to growth could have delivered a meaningful boost to the country’s GDP level.” ~Ryan Bourne
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“While relatively well-functioning governments have managed to find mechanisms that mitigate the problem, it seems unlikely that Argentina and Brazil will be able to prevent a tragedy of the monetary commons given their history of money and fiscal mischief.” ~ Bryan Cutsinger
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“How much more could FDR have done had he had a CBDC? The risk of a CBDC goes beyond the serious issue of financial privacy.” ~ Nicolás Cachanosky
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“Argentina’s economic troubles are self-imposed. They are not the fault of its creditors, who just want to be repaid as promised. Any good-faith solution to Argentina’s problems must start by recognizing the real problem: large fiscal deficits.” ~ Nicholas Cachanosky
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“Latin American leaders seem at least as likely to bolster their own power, while repressing basic liberties, as they are to mitigate the deleterious effects of the disease.” ~ Nicolas Cachanosky
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Why would the Venezuelan government prefer the petro? Three reasons stand out.
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In January, Ecuador celebrated its 20th anniversary of dollarization. The Bastiat Society of Guayaquil and the Instituto Ecuatoriano de Economia Política organized a conference to discuss the pros and cons […]
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Aid from the IMF and other organizations might even make matters worse by shielding policy makers from the consequences of their policies.
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Argentina has shown itself incapable of managing the money supply appropriately. It would do better by outsourcing its monetary policy.