Word: whats
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Dates: during 1980-1989
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Q. What must the Latin American debtor nations themselves do as part of this process?
Q. You are a lifelong socialist. Yet now you are relying on market mechanisms, privatization, letting prices and interest rates find their own levels. It looks like an economic philosophy closer to Ronald Reagan's and Margaret Thatcher's. What's socialist about it?
What we're doing is not a contradiction of our ideology. Price controls were a consequence of the lack of markets, the lack of development and the existence of monopolies and oligopolies. These deficiencies required policies that should have been temporary but became permanent. Now we're correcting past errors...
But what is done is done. The hard lesson of the past decade is that liquidity, to many people, may be all that art means. The art market has become the faithful cultural reflection of the wider economy in the '80s, inflated by leveraged buyouts, massive junk-bond issues and...
The problem is that although art has always been a commodity, it loses its inherent value when it is treated only as such. To lock it into a market circus is to lock people out of contemplating it. This inexorable process tends to collapse the nuances of meaning and visual...