I saw The Goonies with my daughter when it came out. There is this smart Asian American boy that has a solution for each and every problem. He is just a kid though, and some of the comic relief comes from seeing him really, well beyond his league. Here I try to solve the problems of the world, with the help of a pro, Professor Paul Krugman.
Mexico went through its integration with the US in 1994. I still remember myself in my house in Puebla, Mexico, listening to the news and getting all excited because both governments pulled it off! A little later in Europe, Spain entered the Euro Zone.
One difference with Spain and Europe was that the strong economies agreed to help the weak one to get into shape for the big leagues.
It did not happen, and now Spain owes a lot of money.
In this sense I feel glad now, not then though, that the US did not try to fix up Mexico, and have a single currency. What is the name, some conspiracy theorists made up for this currency? Oh yes, the Amero.
One man I remember now, is that poor soul, Lou Dobbs .
What then is the solution for the World's Economic Problems?
To begin with, free capital in chosen places, and hope for the better. Let us say, all the Super PAC money tied up to defeat Obama, should be given to President Obama, and he should start a jobs program, then the private sector seeing that it is good, will liberate even more money, and a virtuous circle will trigger prosperity for the countries with Inclusive Institutions.
Do I believe this will happen?
No, but I am just a Goonie!
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