BOLIVIA: Toward a Free Economy

The country with the Western Hemisphere's worst addiction to inflation last week took the pledge and swore off abruptly. Bolivia launched a determined attempt to force its currency, lately worth around 10,000 bolivianos to the dollar, back up toward its 1951 value of 200. The tools to be used: a drastic stripping-away of artificial economic controls, and a $25 million stabilization loan.* The boliviano's inflation is not yet a classic like the German mark after World War I, when prices multiplied 1.2 trillion times. But in recent months the boliviano has been clearly and dramatically on the skids. Since...