Dure lex, sed lex
By Luis Guillermo Vélez Álvarez - [email protected]
TL;DR
- The State Council suspended a government decree on minimum wage increase.
- The decree was considered an 'authoritarian challenge' to established law and jurisprudence.
- The 23% wage increase was deemed disproportionately large and lacking reasonable economic or legal justification.
- Initial effects of the increase included a surge in inflation and pressure on interest rates.
- The article suggests the decision was political, intended to 'corrupt the currency' and destabilize capitalism.
- Similar policies in Venezuela led to hyperinflation and economic destruction.
- The suspension order mandates the government to issue a new decree with a 'rational' and 'reasonable' increase.
- Defending the rule of law is presented as paramount, irrespective of political consequences or election cycles.
- The author criticizes the government's action as populism and an attempt to 'buy consciences'.