Liberty Movement
Encyclopedia
Liberty Movement was a political party
in Peru
founded in 1987 by groups opposing the nationalization
of the banking sector in 1986. Instead it advocated a free market
approach to solving Peru's hyperinflation
, which peaked at over 7000%.
It was first formed in 1988 together with Popular Action and Christian People's Party
, FREDEMO. In 1990 FREDEMO launched the Movimiento Libertad led by Mario Vargas Llosa
as its presidential candidate. It was an attempt to make alliances between libertarian and the conservative right-wing factions. It led to a break between Vargas Llosa and Hernando de Soto
.
The party was defeated by Alberto Fujimori
in 1990.
After Mario Vargas Llosa abandoned politics and left the country, the movement was dissolved. Most former members joined PPC, AP, or the new political parties that arose for the 1995 presidential elections.
Many years later, a group of former member of this party founded in Lima
, on April 2003, a new political movement called Libertarian Party of Peru (in Spanish Partido Liberal del Peru]). Its founding members are Jose Luis Tapia, Humberto Perez, Fernando Barrios, Myriam Ortiz, and Alberto Mansueti.
Political party
A political party is a political organization that typically seeks to influence government policy, usually by nominating their own candidates and trying to seat them in political office. Parties participate in electoral campaigns, educational outreach or protest actions...
in Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
founded in 1987 by groups opposing the nationalization
Nationalization
Nationalisation, also spelled nationalization, is the process of taking an industry or assets into government ownership by a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being...
of the banking sector in 1986. Instead it advocated a free market
Free market
A free market is a competitive market where prices are determined by supply and demand. However, the term is also commonly used for markets in which economic intervention and regulation by the state is limited to tax collection, and enforcement of private ownership and contracts...
approach to solving Peru's hyperinflation
Hyperinflation
In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
, which peaked at over 7000%.
It was first formed in 1988 together with Popular Action and Christian People's Party
Christian People's Party (Peru)
The Christian People's Party is a center-right and conservative political party based on Christian Democracy. It was founded in 1966 by a group of Peruvian Christian Democracy dissidents, led by Luis Bedoya Reyes....
, FREDEMO. In 1990 FREDEMO launched the Movimiento Libertad led by Mario Vargas Llosa
Mario Vargas Llosa
Jorge Mario Pedro Vargas Llosa, 1st Marquis of Vargas Llosa is a Peruvian-Spanish writer, politician, journalist, essayist, and Nobel Prize laureate. Vargas Llosa is one of Latin America's most significant novelists and essayists, and one of the leading authors of his generation...
as its presidential candidate. It was an attempt to make alliances between libertarian and the conservative right-wing factions. It led to a break between Vargas Llosa and Hernando de Soto
Hernando de Soto (economist)
Hernando de Soto is a Peruvian economist known for his work on the informal economy and on the importance of business and property rights. He is the president of the Institute for Liberty and Democracy , located in Lima, Peru.-Childhood and education:Hernando de Soto was born in 1941 in Arequipa,...
.
The party was defeated by Alberto Fujimori
Alberto Fujimori
Alberto Fujimori Fujimori served as President of Peru from 28 July 1990 to 17 November 2000. A controversial figure, Fujimori has been credited with the creation of Fujimorism, uprooting terrorism in Peru and restoring its macroeconomic stability, though his methods have drawn charges of...
in 1990.
After Mario Vargas Llosa abandoned politics and left the country, the movement was dissolved. Most former members joined PPC, AP, or the new political parties that arose for the 1995 presidential elections.
Many years later, a group of former member of this party founded in Lima
Lima
Lima is the capital and the largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín rivers, in the central part of the country, on a desert coast overlooking the Pacific Ocean. Together with the seaport of Callao, it forms a contiguous urban area known as the Lima...
, on April 2003, a new political movement called Libertarian Party of Peru (in Spanish Partido Liberal del Peru]). Its founding members are Jose Luis Tapia, Humberto Perez, Fernando Barrios, Myriam Ortiz, and Alberto Mansueti.