TAKE the lift down from Luis Videgaray’s office in the National Palace and you enter a portrait gallery of past finance ministers stretching back to the 19th century. Mr Videgaray runs through the latest ones, pointing out, with a hint of rivalry, where they got their economics doctorates. Two of the most influential of the past 15 years went to the University of Chicago (one, Agustín Carstens, is now central-bank governor). They turned Mexico’s economy into a paragon of low inflation and stability—albeit one that has often struggled to grow fast (see chart).
Mr Videgaray is a Massachusetts Institute of Technology (MIT) man. “I didn’t apply to Chicago,” he says. He went to MIT, he points out, because he does not believe markets are perfect. “Mexico is a market economy, but we should have better markets. The government needs to work to improve how markets perform.” That belief is at...
via The Economist: The Americas http://ift.tt/1hHykHb
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