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And the Money Kept Rolling In (and Out)

Paul Blustein · 1 HN comments

HN Books has aggregated all Hacker News stories and comments that mention "And the Money Kept Rolling In (and Out)" by Paul Blustein.

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Amazon Summary

In the 1990s, few countries were more lionized than Argentina for its efforts to join the club of wealthy nations. Argentina's policies drew enthusiastic applause from the IMF, the World Bank and Wall Street. But the club has a disturbing propensity to turn its back on arrivistes and cast them out. That was what happened in 2001, when Argentina suffered one of the most spectacular crashes in modern history. With it came appalling social and political chaos, a collapse of the peso, and a wrenching downturn that threw millions into poverty and left nearly one-quarter of the workforce unemployed. Paul Blustein, whose book about the IMF, The Chastening, was called "gripping, often frightening" by The Economist and lauded by the Wall Street Journal as "a superbly reported and skillfully woven story," now gets right inside Argentina's rise and fall in a dramatic account based on hundreds of interviews with top policymakers and financial market players as well as reams of internal documents. He shows how the IMF turned a blind eye to the vulnerabilities of its star pupil, and exposes the conduct of global financial market players in Argentina as redolent of the scandals -- like those at Enron, WorldCom and Global Crossing -- that rocked Wall Street in recent years. By going behind the scenes of Argentina's debacle, Blustein shows with unmistakable clarity how sadly elusive the path of hope and progress remains to the great bulk of humanity still mired in poverty and underdevelopment.

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Hacker News Stories and Comments

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May 10, 2021 · shubik22 on The Ultimate Guide to Inflation

Seems like a solid, albeit somewhat dry explanation of inflation. I love concrete examples of how inflation impacts people’s lives, and there are a few that really helped clarify my understanding of inflation that I like to point others to now.
1) https://www.npr.org/sections/money/2015/12/02/458222801/epis.... A great Planet Money episode about how Brazil combatted hyperinflation by just replacing their currency.
2. https://slate.com/business/1998/08/baby-sitting-the-economy..... A Paul Krugman Slate article about a 1978 journal article that uses the example of a babysitting coop to illustrate the way that the monetary supply can have ramifications on the real economy.
3. And the Money Kept Rolling In (and Out) https://www.amazon.com/dp/1586483811/ref=cm_sw_r_cp_api_glt_.... A much longer read, but this is book about the economic crisis in Argentina is one of my favorite economics books, and also teaches you a lot about the international monetary system as well.

⬐ marcosdumay
> by just replacing their currency
And stopping printing money and balancing the budget. Also a lot of legal interventions to stop some habits, and even a constitution change.
The Real was a complex and multifaceted project.

⬐ dnautics
Krugman's blindness to the patently obvious solution to babysitting coop scrip story is astounding. If anything it belies the Marxist philosophy that an hour of work is an hour of work. It's completely ridiculous that any arbitrary pair of hours should be equivalent to each other. They should not have pegged the currency, and that is the problem. When you think inflation is a hammer and all planned economies are nails, people are gonna get hurt.

Hacker News Comments on And the Money Kept Rolling In (and Out)

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Hacker News Comments on
And the Money Kept Rolling In (and Out)