A Mexican Crash Course on Free Markets

The president of Mexico, Andrés Manuel López Obrador—known as AMLO—has entered a crash course on the ravages of populism and statism.
To finance the increase of redistributive programs without damaging public finances, AMLO was determined to combat the theft of gasoline. Taxes on gasoline are a key source of revenue for him; his government anticipated an increase in fuel-related income to partially finance his social altruism. Therefore, it was necessary to end the “huachicoleo,” as they call the theft of hydrocarbons, worth about US $10 million dollars per day. He went on to shut some key pipelines that distribute the fuel

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