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Noel Maurer
I'm a university professor.
Interests: My current research asks whether foreign governments or international institutions can improve economic governance. Is it possible to alter a country’s property rights system from the outside? This research has two prongs. The first is a historical work, tentatively entitled Imperial Experiments: Intervention, Economic Growth, and Property Rights, which tests various hypotheses about the success and failure of American attempts to improve economic governance outside the United States and protect the property rights of U.S. investors before World War II. The second is a series of contemporary case studies about attempts to alter nations’ internal economic governance from the outside: bilateral investment treaties, investor protection clauses in trade agreements, conditional loans, the “mortgaging” of export revenues, vulture funds, and military intervention. I also watch a lot of baseball, enjoy very bad music, and do a lot of travelling. The travel tends to be either in total luxury, or to places where I need to wear body armor and live in constant fear of, well, death.
Recent Activity
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The trillion-dollar coin ideas seems completely irresponsible on its face. Here you have a law that lets the U.S. Treasury mint commemorative platinum coins with whatever face value that it wants. So let’s have the Treasury mint a coin with... Continue reading
Posted Oct 3, 2021 at The Power and the Money
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Watching the Argentine mess is fun! These posters have recently gone up all over the capital city: It shows Perón himself saying, “Stop fucking around. First the country, then the movement, and only then individuals.” Right now, the issue seems... Continue reading
Posted Sep 17, 2021 at The Power and the Money
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The left-wing ruling party in Argentina appears to be in the middle of a complete collapse. Background The party, called the Frente de Todos (or “Everyone Front” or “Front for All” both of which sound as clunky in English as... Continue reading
Posted Sep 17, 2021 at The Power and the Money
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This post was going to be about all the populist measures the Fernández administration has rolled out in the last few days, but instead it’s going to be about the circular firing squads forming up in the cabinet. Short version:... Continue reading
Posted Sep 15, 2021 at The Power and the Money
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Argentina has a weird two-stage electoral system. The first stage is called the PASO, for Primaria Abierta Simultánea y Obligatoria. Everyone has to vote in the primary, therefore “Obligatoria.” (Although the fine is currently running only around 50¢, U.S.) All... Continue reading
Posted Sep 15, 2021 at The Power and the Money
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And the results are in! Or were in, since the voting took place on Sunday. On one hand, the result is a massacre for the government. Juntos won 42% of the votes for the lower house, against 32% for the... Continue reading
Posted Sep 15, 2021 at The Power and the Money
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Texas and northern Mexico are in the middle of an astonishing cold snap. Conditions are so bad that the bad weather pops out on a national map of traffic conditions: The cold snap is also prompting blackouts across Texas and... Continue reading
Posted Feb 15, 2021 at The Power and the Money
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Joint with Leticia Abad The 2020 election was strange, and not just because the President denied he had lost, was believed by millions, and inspired a violent plot to use a mob to seize control of Congress and overturn the... Continue reading
Posted Feb 1, 2021 at The Power and the Money
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Nothing. Texas went purple … ish. Joe Biden did better than previous Democrats, but still got beat by six points. Texas is not quite red any more. Call it magenta, or rose. But why did it not not go purple,... Continue reading
Posted Nov 15, 2020 at The Power and the Money
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I am reading “Divided We Fall” by David French. He may be the first thoroughly mainstream commentator to seriously posit that the American federation may break up under the weight of our political differences. Cheery reading for another happy election... Continue reading
Posted Nov 3, 2020 at The Power and the Money
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All eyes are on Texas. I love Texas! And I have for a very long time. Maybe this dates back to a trip to Dallas to visit my stepfather back in 1986? Or maybe there’s just something about the state... Continue reading
Posted Oct 30, 2020 at The Power and the Money
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What would it take to get one billion Americans by 2100? Matt Yglesias does a good job of explaining why that would be a worthy cause in his book titled … well … One Billion Americans, but he doesn’t really... Continue reading
Posted Oct 25, 2020 at The Power and the Money
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Did Donald Trump just repeal Article 1 of the constitution on Saturday? After looking at the details, I published a hot take on Twitter that seems to be standing up to the test of time. So my short answer: no.... Continue reading
Posted Aug 10, 2020 at The Power and the Money
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Manuel Bartlett is the corrupt head of CFE, Mexico’s state electricity company. He hates renewables. So he’s trying to kill it with the support of Mexico’s president. From the man himself: “Wind and photovoltaic (plants) don’t pay the CFE for... Continue reading
Posted May 23, 2020 at The Power and the Money
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Argentina is going to get a large haircut on its debt. That was a foregone conclusion. Now, though, Covid-19 has worsened the situation. Yet for some reason Argentina has made a very generous opening offer, about what I would have... Continue reading
Posted Apr 17, 2020 at The Power and the Money
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The United States is not joining OPEC. The United States is not leading a cartel to raise oil prices. The United States is, to quote my 5-year-old daughter, “not doing nothing.” The President of the United States is posturing. Right... Continue reading
Posted Apr 14, 2020 at The Power and the Money
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Oil prices are crashing due to Covid-19. So what happens to American output? Market reactions first, then political ones. Well, first the oldest building in Dallas, circa 2019: Yes, my shoes are bright blue. Now market reactions to the Covid... Continue reading
Posted Apr 12, 2020 at The Power and the Money
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OPEC has been trying to negotiate production cuts in order to prop up oil prices. Mexico resisted making any cuts. AMLO then declared that he had asked the United States to make part of the requested cuts on Mexico’s behalf.... Continue reading
Posted Apr 10, 2020 at The Power and the Money
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In 2015, Chile reformed its horror of a Senate. (This blog is no fan of senates.) Previously, Chile elected two senators from 19 constituencies. Eight of the constituencies conformed to Chilean regions, regardless of population. The remainder consisted of regions... Continue reading
Posted Jan 8, 2020 at The Power and the Money
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The Republic of Chile is set to replace its constitution. After the mass demonstrations, all the political parties signed on to writing a new Magna Carta. Amendments readily passed authorizing a constitutional convention if a national referendum gives the thumbs... Continue reading
Posted Jan 6, 2020 at The Power and the Money
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The excitement around the recent Argentine election felt unprecedented. Everyone was talking about how fired up people were. Both sides thought this was a critical election. Random people on the subway called it, “The end of the world.” News reports... Continue reading
Posted Nov 7, 2019 at The Power and the Money
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Joint with Leticia Abad. First things first: Macri won 90% of the Antarctican vote! Sure, that’s only 102 people, but hey, climate change. Just wait until the 2059 election. He also won everything in the Malvinas, getting zero of zero... Continue reading
Posted Oct 28, 2019 at The Power and the Money
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Even with the República Argentina on the verge of an historic election, the riots and subsequent demonstrations in Chile have attracted a lot of attention. Below is a much smaller sympathy demonstration getting started in Buenos Aires, organized by the... Continue reading
Posted Oct 26, 2019 at The Power and the Money
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The new Brexit deal seemed like a weird animal. The old Brexit deal kept the whole U.K. in a customs union with the E.U. since nobody wanted a customs border running down the Irish Sea. The new Brexit deal seems... Continue reading
Posted Oct 17, 2019 at The Power and the Money
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So, the Trump administration just announced tariffs on a swathe of European imports, and the Europeans announced they would retaliate. More Trumpian trumpety trump? No. The WTO is working as it is supposed to work, regardless of the predilections of... Continue reading
Posted Oct 4, 2019 at The Power and the Money