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Well, Argentina's currency controls are legendary for how awful they are. If you want a lesson in how NOT to manage monetary policy, look at Argentina since abo
by exelius 12y ago
Well, Argentina's currency controls are legendary for how awful they are. If you want a lesson in how NOT to manage monetary policy, look at Argentina since about 1900. The country was the richest in the world at the time, but since then has alternated between boom and bust thanks to its disastrous monetary policy. Evading the government's currency controls is a way of life for Argentinians.
- Sherlock 12y agoThe Economist published an interesting report about that some months ago. The main takeaways were that (1) Argentine was rich, but lagged behind its money-peers in human development indexes such as literacy rates and (2) The elite from Argentina benefited from high food prices, so the rest of the country resented them, a brewing pot for populism. But your point stands, monetary (or fiscal) policy was awful.