This article is a critique of the most important authors who studied the causes of inflation a decade ago: the monetarists and the structuralists. After an epoch of intense debate it followed one of scientific sterility, without a real discussion of the real causes. The goal is to understand the causes of inflation and deflation in Latin America, pointing out the importance of social groups as a source of inflation.

Bibliographical essay about critics and alternatives to orthodox economic theory

A few months after its appearance, the fifth edition of an exceptional book is in circulation: Anatomy of an economic failure: Peru, 1968-1978. The sales success has surprised its editors and probably also its authors, the Peruvian economists Daniel Schydlowsky and Juan Julio Wicht (1979). It is, therefore, a strange phenomenon in the national bookmarket, so depressed over the past five years. One explanation for this unexpected boom is undoubtedly due to the language so easy to boast and through which they sell a clear and basic message that promises to end all our problems in a short time and at minimal cost.

The article analizes the failure of heterodox stabilization policies that were followed, in the mid eighties, as a reaction to orthodox antiflationary policies designed in economies which were experiencing cronic inflation. The author's message is that this failure is mainly due to incomplete and incoherent programs, as well as to mistakes in their implementation, in contrast to a conceptual vacuum or an inadequate analysis of the situation. In the first part the author covers the explanation given for Latin American inflation by structuralists in the fifties and sixties. In the second part the author focuses on the theorical and practical aspects of the heterodox satabilization policies. Finally, a broad bibliography is included.​

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In July a discussion about income redistribution was held at the University of Pacífico, organized by the Academic Department of Economics and the Association Internationale des Étudiants en Sciences Économiques et Commerciales (AIESEC-PERU). This discussion responds to the growing interest in the subject, which is recently treated with the appropriate stringency. On the other hand, it is obvious the importance of the subject in the current socio-economic scenario of the country.   The discussion consisted of three parts. In the first, the professors exposed the principal conclusions of their research, posing some questions that were discussed in the second part. In the third, he public that assisted participated with question to the exponents.