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I wish to add to Chas's comments the following: 
 
The basic pattern is well-known to economists. The inflationary process 
proceeds always in a political context with parties and interest groups who 
may understand the redistributive effects of inflation and still hope to 
gain wealth or status by supporting the process. One dimension of the 
revolution on modern economic thought especially surrounding the public 
choice school has been to emphasize this political process. In Argentina's 
case the story that needs to be told would be less about a maverick central 
bankers extending credit and more about a government trying to provide 
social programs to stay in power.  
 
The anti-quantity theory tradition denies that the changes in the money 
supply cause the process but instead reflect longer term forces such as 
trends in the balance of payments, etc. Do these arguments have any 
applicability to the Argentine situation or can we agree that we have 
"classic monetarist hyperinflation" once again dominating Argentina's 
political history. 
 
Has Argentina produced any interesting economists who have examined these 
questions?  What results? 
 
Laurence S. Moss 
 
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