The United Nations recently passed a resolution in which those who lend money to governments are denounced as "vultures" while the governments themselves are portrayed as hapless victims. This isn't exactly a complete and accurate picture of the situation.
Economic populists have become skilled at causing economic calamities while escaping the blame. Instead, it’s the non-populists that end up picking up the pieces while getting the blame for the unemployment and wealth destruction that follows in the wake of populist economic policies.
The Argentine government has a habit of spending without restraint and then trying to cheat its creditors. But this time, it's run into a problem, writes Nicolás Cachanosky. This audio Mises Daily is narrated by Robert Hale.