Jun 25, 2007


Maria Anastasia, prácticamente sindicada al blog, explicando una vez más algo que es tan fácil que... nadie lo entiende:

It would not be surprising if energy turns out to be only the canary in the coal mine of the Argentine economy. Scarcities do not occur in market economies because as supply is constrained prices rise, tempering demand; consumers can then get all they want at the new price level. More important, higher prices stimulate new supply as producers have a greater incentive to invest and innovate to bring product to market and get paid.

Since the end of 2001 the Peronist economic agenda has rejected these simple laws of the market in favor of economic populism. In December of that year, the government reneged on its debt, establishing an uncertain environment for capital that continues today. In 2002, it further alienated investors by abrogating utilities contracts and imposing price controls. These decisions were taken before Mr. Kirchner assumed the presidency but his government has made things worse by broadening the scope of the price controls and pursuing an almost irrational vendetta against the private sector, creditors and profits.

The Kirchner legacy has also spread an anti-property rights ideology throughout the country. Local legislatures in Catamarca and Corrientes provinces are now contemplating the seizure of ranch land owned by foreigners, reinforcing the message that investing in Argentina is a risky proposition.
The costs for this nonsense are now showing up. Consumers are hungry for a variety of artificially low-priced products, from gas to foodstuffs, but supply is going in the opposite direction as investors are nowhere to be seen. Ergo, shortages.

El artículo no tiene desperdicio.

3 comments:

  1. No pasa nada, lean la columna de Redrado de hoy. Está todo pipí cucú.

    ReplyDelete
  2. En Zenyatta Mondatta, The Police tiene un tema llamado Canary in a Coalmine.

    "Now if I tell you that you suffer from delusions
    You pay your analyst to reach the same conclusions"

    Los mineros utilizaban estos amarillos pajaritos como un sistema de alerta para evitar la intoxicación con Grisú (que no es la que te agarrabas por tomar demasiados fernets en el boliche de Bariloche sino el envenenamiento con un gas que suele estar presente en las minas de carbón). El pajarito muerto indicaba que había que salir corriendo a la superficie.

    Viendo la crisis energética, es hora de que todos salgamos corriendo a la superficie antes que sea tarde.

    Por lo pronto, ayer dos distritos se dieron cuenta que el canario se murió.

    ReplyDelete

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