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Mexico's economy shows lack of the rule of lawThe election is secondary to fixing the
long term corruption.
Robert Robb from one of my "backyard" papers
calls it right.
What is needed to fix Mexico's economy is extensive and difficult. The only substantial progress in recent years has been the establishment of a stable currency, a prerequisite to economic growth. Other than that, Mexico has a distressingly long way to go to put in place the elements of economic success. The Mexican economy is burdened by lumbering private and public monopolies or quasi-monopolies. It retains excessive barriers to foreign investment, particularly in key infrastructure sectors such as energy and telecommunications. Indigenous entrepreneurship is stifled by burdensome regulation, taxation and, most of all, corruption. An estimated half of the population works in the informal economy, outside government regulation and taxation but not payoffs. Lowering barriers to participation in the formal economy is perhaps the most important economic reform of all for Mexico's future. I'll also point out that a major reason why the Mexican economy hasn't totally disintegrated is because of cash flowing from the United States. Both that sent by immigrants and illegals, and the tourism trade. 
Posted: Fri - July 14, 2006 at 05:28 AM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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