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Welcome to the AMLO era

In his first speech as president of Mexico, Andrés Manuel López Obrador decried neoliberalism and pledged to abolish free-market policies. He also vowed to usher in the “fourth transformation of Mexico", and signposted the day of his swearing in as "not only the start of a new government but a change of political regime".Mr López Obrador is not one to shy away from big promises. On the campaign trail, he committed to increasing infrastructure spending, raising pensions for the elderly, extending educational grants for young citizens and raising subsidies for farmers. All without raising the national debt or taxes. Clamping down on corruption and slashing governemnt salaries, he said, would pay for it all.To make good on any of these pipe dreams, Mr López Obrador needs at the very least a

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In his first speech as president of Mexico, Andrés Manuel López Obrador

FT Alphaville
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