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Maradona’s goals and Argentina’s economic instability
In this June 29, 1986 file photo, Diego Maradona holds up his team s trophy after Argentina s 3-2 victory over West Germany at the World Cup final soccer match at Atzeca Stadium in Mexico City.
(AP)
Vivek Moorthy
His goals led to inflation policy talk but the big Argentine lesson is about how key officials are appointed
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The demise of Diego Maradona last month incidentally brought to the fore the topic of monetary policy in Argentina. The governor of Bank of England in 2005, Mervyn King, in a lecture staunchly supporting inflation targeting, had used Maradona’s (invisible) ‘Hand of God’ goal, and his unexpected tactics in his second goal in Argentina’s spectacular 1986 win against England, to elucidate concepts related to inflation expectations. Lord Mervyn King’s comments were alluded to in newspaper editorials, and in Mint too, last month.
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