The man who stopped Bolivia’s hyperinflation (25,000% → 10% in months) believed in discipline over demagoguery.
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A legacy of tough choices. 🇧🇴📊
#HoracioCardenas #Economics #Bolivia
The result? Inflation dropped to single digits in . Bolivia went from crisis to stability – a case study still taught in economics today.
💬 "Inflation is the cruelest tax. It falls hardest on those who can least afford it." — Horacio Cárdenas
His 1985 shock therapy tamed hyperinflation in months, not years. A masterclass in bold economic reform. horacio cardenas
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#HoracioCardenas #Economics #Bolivia #FreeMarkets #Inflation #EconomicHistory
Horacio Cárdenas walked into an economy with 25,000% inflation… and walked out a hero. 🇧🇴📉 The man who stopped Bolivia’s hyperinflation (25,000% →
Enter – an economist armed with a chainsaw (figuratively) and a bold plan.
In 1985, Bolivia’s inflation rate hit . Shelves were empty. The currency was worthless.
As Minister of Finance, he implemented Decree 21060, which: ✂️ Slashed government spending 🏦 Stopped printing money 💵 Pegged the peso to the dollar 📈 Opened the economy to free markets Inflation dropped to single digits in