Matt Kibbe sits down with Patrick Mardini, founder of the Lebanese Institute for Market Studies, to talk about the recent explosion that rocked the port of Beirut, killing hundreds. It turns out that a big part of the problem was mismanagement by the Lebanese government, which at the same time has created a massive recession, incurred huge amounts of debt, and devalued the currency to the point where 80 percent of locals’ savings have been wiped out. Mardini concludes with some free market reforms that could start to improve the country’s long-term outlook.
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