Central Banks

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While the prospect of Javier Milei being elected president of Argentina is attractive, his plan to "dollarize" the Argentine economy will fall well short of hopes and expectations.

While central banks use administered interest rates in hopes of emulating the natural rate, these efforts are always going to fail. Without free markets, there is no natural rate.

The Nigerian government should have seen the economic disaster the eNaira would cause. They didn’t, and chaos and rioting followed.

While the prospect of Javier Milei being elected president of Argentina is attractive, his plan to "dollarize" the Argentine economy will fall well short of hopes and expectations.

While central banks use administered interest rates in hopes of emulating the natural rate, these efforts are always going to fail. Without free markets, there is no natural rate.