Nothing short of an economic exorcism is needed in Zimbabwe. Looking at what President Mnangagwa has done so far, it doesn’t seem that Zimbabwe is actually serious about making tough reforms.
Hazlitt and all of the other critics of Keynes never did get to the primary points with respect to what was wrong with Keynes. One point was theoretical. The other was practical.
The history of Latin America is filled with tragic stories of countries reaching great heights — Argentina and Venezuela come to mind — and then falling back to mediocrity. Chile could be next if the protesters get their way.
Anti-market activists in Argentina try to blame the country's economic woes on markets, but the populist movement of Peronism is what has doomed the country to endless cycles of economic and monetary crises.
Thanks to huge amounts of fiscal and monetary stimulus, China is in the midst of a very large housing bubble, with predictable results for housing affordability.
