Latin America's Failed Macroeconomic Dictatorships

In the 1990's Latin Americans were patted on the back for ridding themselves, at long last, of the military dictators that had blighted the continent's history. But the dictatorship of generals, sadly, was replaced by the dictatorship of an idea: macroeconomic stabilization. Now that dictatorship, too, is beginning to crumble. May it be buried quickly.