By Mary Anastasia O’Grady, The Wall Street Journal, 12/1/2008
Much has been written about the “cultural” divide between Norte Americanos and Latinos. But with the burst of the asset bubble, we’ve learned that politicians, north and south, react similarly in the face of economic crisis.
This commonality occurred to me over breakfast in New York last week with Mexico’s minister of finance, Agustin Carstens. The University of Chicago-trained economist was explaining the rationale behind President Felipe Calderón’s “stimulus” package. I kept thinking about President-elect Barack Obama’s promised further spending spree on this side of the border. The Mexican version is not nearly as ambitious but the concept is the same. “He’s taking my money in order to spend it better than I can,” a Mexican friend shot back sardonically when I asked him his views on Mr. Calderón’s plan. We’re all keynesianos now.
Filed under: Economic Integration, Politics and Elections | Tagged: Agustín Carstens, Economic Policy, Felipe Calderon, Mexico
