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From the Espriella Inherits an Armored Colombia
Summary by El Economista
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In 1991, economists Rudiger Dornbusch and Sebastián Edwards put “macroeconomic populism” on an old Latin American bad: distributing money today ignoring tomorrow’s account. The Colombian chapter of that book was entitled “On the Absence of Economic Populism in Colombia.” Miguel Urrutia, who years later became general manager of the Banco de la República between 1993 and 2005, documented the anomaly: while other countries went from expansion to c…
·Mexico City, Mexico
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