Countries tend to descend into the tar-pit of political dysfunction all too easily, which I think can be explained by reflexivity. Once a sector or an interest group in a country becomes dominant, as a result of some historical policy enacted by a possibly well-meaning government, it can prove almost impossible to reverse the policy as now the beneficiaries have become sufficiently numerous to form a winning coalition (in the jargon of selectorate theory).
I am fairly confident that Argentina will continue to be inflation-prone long after I am dead, however much presidential candidates promise to put the currency on a firm footing.
Countries tend to descend into the tar-pit of political dysfunction all too easily, which I think can be explained by reflexivity. Once a sector or an interest group in a country becomes dominant, as a result of some historical policy enacted by a possibly well-meaning government, it can prove almost impossible to reverse the policy as now the beneficiaries have become sufficiently numerous to form a winning coalition (in the jargon of selectorate theory).
I am fairly confident that Argentina will continue to be inflation-prone long after I am dead, however much presidential candidates promise to put the currency on a firm footing.