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When I visited Perú in 2006, I was really impressed with the level of entrepreneurial activity. Every downtown street in every city was bustling with entrepreneurs. I had entrepreneurs walking up to me everywhere to try to sell me stuff. I couldn't walk down the street without entrepreneurs honking at me in case I wanted a ride in their taxi. My wife finally gave up and wore earplugs whenever we went outside.

This is a result of Perú's economy being a giant crater in the ground.

I suspect that what's happening is that the US is becoming more like Perú.




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