There is a great confusion in the world and even more in that part of the world that considers itself as representing the Western civilization. This confusion arises in two realms: the semantics and the conceptual. The first of these confusions is the result of ignoring the ethical and the political philosophy antithesis between the Anglo-American philosophy and the Franco-German one. As Balint Vazsonyi once wrote, they are as different as day and night. At the same time, that philosophical confusion to which Dr Ribas refers as the syncretism of Western philosophy, is the pretentious nirvana of democracy in the West. Conceptually, democracy may be divided in two antithetical systems: the rule of law and the majority rule. Majority rule is the opposite of the protection of individual rights: to life, liberty, property and the pursuance of happiness. In this book Dr Armando P. Ribas exposes the fact that the apparent rights of the majorities are no more than the absolute power of governments in the name of the people, that constitutes the new deity. This is in Aristotelian terms demagoguery, and the reason why democracy fails in Latin America, as it happened in Europe where Hitler and Mussolini represented majority rule as the most common excuse: reason of the state.
This paper discusses the role of a country’s fiscal stance in weakening the financial underpinnings of an open economy with a quasi-fixed nominal exchange rate, even where the overall fiscal deficit remains unchanged, or even narrows. The paper cites the role of expanding government operations in reducing the relative price of traded goods. A marked increase in government expenditure and taxation is associated with increased production costs, excess demand for nontraded goods, and a deterioration in the financial health of the traded goods sector. The paper demonstrates that, in contrast to the current economic situation in Mexico, the period leading to the 1994 crisis closely parallels these stylized facts.
There is a great confusion in the world and even more in that part of the world that considers itself as representing the Western civilization. This confusion arises in two realms: the semantics and the conceptual. The first of these confusions is the result of ignoring the ethical and the political philosophy antithesis between the Anglo-American philosophy and the Franco-German one. As Balint Vazsonyi once wrote, they are as different as day and night. At the same time, that philosophical confusion to which Dr Ribas refers as the syncretism of Western philosophy, is the pretentious nirvana of democracy in the West. Conceptually, democracy may be divided in two antithetical systems: the rule of law and the majority rule. Majority rule is the opposite of the protection of individual rights: to life, liberty, property and the pursuance of happiness. In this book Dr Armando P. Ribas exposes the fact that the apparent rights of the majorities are no more than the absolute power of governments in the name of the people, that constitutes the new deity. This is in Aristotelian terms demagoguery, and the reason why democracy fails in Latin America, as it happened in Europe where Hitler and Mussolini represented majority rule as the most common excuse: reason of the state.
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