This is a very nice post and I fully agree with it. Not only John is a very pragmatic and balanced thinker, he is also a very nice guy (in a seminar at the IIE where everybody was insulting me, John defended me). It’s terrible that he got stuck with the label of “bad Washington Consensus guy.” Moreover, in order to understand the roots of the Washington consensus one should also think about the crazy economic policies that preceeded it and brought hyperinflation and decade-long contractions in several Latin American countries.
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4th Look at Local Housing Markets in November
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