ARGENTINA: Forget the Dollars

Said Economic Czar Miguel Miranda last week: "The future of Argentina, as I see it, is very brilliant, because our products are bound to give us all we need." At such talk many an Argentine businessman winced. All around were signs that the economy of the country was sick and getting sicker week by week.

Meat exports were declining alarmingly. Because the government had dillydallied with new export rules, trading in hides and skins had all but stopped. Miranda had priced linseed oil right out of the export market. To save its vanishing dollar exchange, the government was even making...

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