Mexico’s President AMLO Shows How It’s Done

Andrés Manuel López Obrador (known as AMLO) has been compared to the United Kingdom’s left-wing opposition leader Jeremy Corbyn, with one notable difference: AMLO is now in power. He and his left-​wing coalition won by a landslide in Mexico’s 2018 general election, overturning the Institutional Revolutionary Party (PRI) that had ruled the country for much of the past century.

WEB OF DEBT BLOG

While U.S. advocates and local politicians struggle to get their first public banks chartered, Mexico’s new president has begun construction on 2,700 branches of a government-owned bank to be completed in 2021, when it will be the largest bank in the country. At a press conference on Jan. 6, he said the neoliberal model had failed; private banks were not serving the poor and people outside the cities, so the government had to step in.

Andrés Manuel López Obrador (known as AMLO) has been compared to the United Kingdom’s left-wing opposition leader Jeremy Corbyn, with one notable difference: AMLO is now in power. He and his left-​wing coalition won by a landslide in Mexico’s 2018 general election, overturning the Institutional Revolutionary Party (PRI) that had ruled the country for much of the past century. Called Mexico’s “first full-fledged left-wing experiment,” AMLO’s election marks a dramatic…

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2 thoughts on “Mexico’s President AMLO Shows How It’s Done

  1. Wonder if the Trump administration’s recent move to shut down Post Offices around the country is connected to increased talk of Postal banking… If Mexico is going to put 2,700 branches into operation, a similar national project in the United States could consist of 7,500-10,000 public banking outlets operating out of pre-existing Post Offices.

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  2. Wow, great point, Jerry. We have postal banking here in New Zealand. Unfortunately Kiwibank (though government) still doesn’t operate as a true public bank because the government keeps all their tax revenues in one of the Australian banks.

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