NewsThe economic 'lesson' of Pedro Castillo, future Peruvian president:...

The economic 'lesson' of Pedro Castillo, future Peruvian president: "A monopoly is a company that seeks profit" | Peru

Peru’s likely new president, the leftist Pedro Castillo , offered a disturbing ‘lesson’ in economics that has Peruvians in awe. The knowledge, or rather, the total lack of it about the most elementary economic bases of the candidate of the left may well offer a gloomy panorama about the future that awaits the South American country under Castillo’s leadership.

In a recent interview in which this candidate, who has always been strongly critical of the capitalist system and corporate profits, Castillo was asked about the monopolies, whose existence he wanted to denounce. Given that Peru has a system of business freedoms perfectly comparable to that of any neighboring and advanced democracy, the interviewer asked him “what monopolies are there in this country?”

Casillo took off the hook assuring that he sees «the monopoly this [sic] of the transport companies, for example. The airline…”. At that moment, surprised, the interviewer cuts him off to ask: «Do the airlines have a monopoly? Which airline has a monopoly, Latam? ‘

“Of course,” Castillo answered decisively. Latam, a union of several South American airlines, is undoubtedly the largest in the area, but more companies operate in Peru such as Sky, Star, Viva Air …

“Who else [is a monopoly?” Well, Castillo explains: “The markets … That today, for example, like Metro, Sala Falabella [is a chain of department stores], the Government has received in the framework of the economic reactivation.”

And why are these companies a monopoly? Here comes the great explanation of the future president of Peru: “It is a monopoly because it brings together its economy to make a business profit regardless of the State, regardless of the people.” In other words, for Castillo, a monopoly is a company whose objective is to achieve maximum economic benefit, regardless of whether there is competition in its sector or not.

“But that’s not a monopoly, if I don’t want to buy at Saga Falabella I can buy elsewhere,” the interviewer tried to explain to a Castillo who kept an expression of not understanding the clarification.

What is the leftist president of Peru accused of?

Prosecutor Patricia Benavides filed a constitutional complaint against the leftist leader in Congress, an instrument that can lead to the president's suspension.

LAST MINUTE: The Peruvian Prosecutor's Office accuses the president as the leader of a...

Prosecutor Patricia Benavides accuses Pedro Castillo of being the alleged perpetrator of "crimes against public tranquility," such as influence peddling and abuse of power.

Mexico, Argentina, Ecuador and Bolivia support the president of Peru after the crisis

The governments of Latin American countries support the continuity of Pedro Castillo despite the fact that he faces six investigations

The political crisis in Peru deepens with the resignation of the prime minister

Aníbal Torres, who had become a staunch defender of President Pedro Castillo in the face of accusations of corruption, justified his resignation for "personal reasons."

Pedro Castillo turns one year at the head of Peru harassed by justice

The leftist government faces a record five tax investigations for alleged corruption and a Congress that has twice tried to impeach him.

More