Making up the rules in Brazil
When Winston Fritsch was doing his PhD at Cambridge, England, in the 1970s, Brazilian president Fernando Henrique Cardoso was a visiting professor. Cardoso was in exile from Brazil's military rulers at the time. The two men became friends and kept in touch over the years.
A decade-and-a-half later in 1993, Fritsch was sitting at his home near Rio de Janeiro one Saturday when the phone rang. It was Cardoso who had just been made finance minister and wanted to put together an economics team and a stabilization...
