Optimizing What?
The previous post got a pretty good debate going about oil policy. One point, though, kept coming up in different ways from different commenters: seeing “optimizing the tax...
Economy
You can't put optimal oil policy on a bumper sticker
…well, not a sensible bumper sticker, anyway. Oil policy in a context like Venezuela’s is irreducibly complex. You could say you want to maximize the cash flow to...
Caudillista? Moi?!
This has to be the most chigüiresque headline I’ve seen on a legitimate news story all year. Honestly.
XIIIth Century Socialism
So far we haven’t commented much on chavismo’s batty new Law on Fair Costs and Prices – mostly because it’s too depressing. Criticizing the economics behind it in...
Another Look at the National Railroad System
Over in Spanish, Raúl Aular shows how camera angles can make a world of difference.
Mr. Big Oil
What would oil policy look like in a Leopoldo López presidency? 1. Lots of investment in production, geared toward making Venezuela the world’s top producer 2. Lots of...
Borrowing at Credit Card Rates
Let’s be clear: for a country to issue a sovereign bond with an 11.95% coupon is really just a polite way of saying it’s broke. Moderately responsible individuals...
Annals of Goal Post Locomotion
In 2008, PDVSA said they planned to produce 5.8 million barrels per day by 2012. In 2009, it was 4.9 million b/d by 2013. In 2010, they pledged...
Chuspa Chronicles
Don’t miss The Great Miguel’s latest post on the dashed revolutionary hopes of the fishermen in Chuspa. It’s an amazing read.
Conditional cash transfers suck ...
… or so says this new paper by Javier Báez of the World Bank and Adriana Camacho of Bogotá’s Universidad de los Andes. The authors wants to measure the long-term...
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