However, on the other hand, the Mexican peso has recorded an important depreciation over the last couple of years, and continues to be subject to significant pressures. Naturally, this raises question marks about the accompanying risks to inflation. 1  The views expressed in this document are strictly personal.
In the 1930s the public sector accounted for about 15 per cent of the economy in the industrial nations. The Depression that swept the private sector had a devastating impact, with major political repercussions, in the absence of the stabilizing effect of a substantial sector not subject to cyclical swings.