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" Ten percent of Mexican voters now live in the US legally or illegally, but they account for fifty percent of Mexico's purchasing power."

The article is very critical of Vicente Fox and his lack of reforming.


At 3:38 PM, Blogger Miguel said...

"Few free market reforms were undertaken, scant new jobs were created, and in the grating dynamic of "reforms" as they are executed by such 'third-way' regimes, GDP went up in low single digits, based on the production of a few big companies and government spending. New small companies were never formed. The renewed mercantilism - or, in Latin America, the term is 'corporate state' - in turn made the rich richer and the poor poorer."

Sounds like President Bush.

BTW, Mexico is a great example of why Republicans and Libertarians have a reputation as suckers -- their privatization of the 1990s was exactly what leftists say privitazition is: a criminal givaway to a small group of oligarchs who reposition themselves as businessmen.

At 10:47 PM, Blogger Ivan said...

The main difference is that Mexico is still a developing nation -- and you expect better growth from them.

Also, job growth has been consistent, tax cuts were across the board, and America is still the best place in the world to start a business.

The government failure you allude to doesn't imply anything about the general case on private reforms. This is a better explanation.

At 3:17 PM, Blogger Miguel said...

I'm just saying that, looking at Mexico's history, the so-called free market reforms were nothing of the sort: there's little rule of law there and the privitization was simply a transfer of the nation's wealth to a few dozen people. Mexico (and Russia) have both given "free market reform" a bad name because their 1990s era reforms were implemented by the naïve working together with the greedy.

PS Job growth here has been consistently smaller than population growth, and taxes should not be counted based on what the government takes in, but rather how much public money it spends.


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