Ricardo López Murphy
Encyclopedia
Ricardo Hipólito López Murphy (born August 10, 1951) is an Argentine
economist and politician.
, Buenos Aires Province
. He attended the National University of La Plata, where he was awarded the title of "Licenciado en Economía" (a degree in Economics comprising four years of study) in 1975. He then went on to get his Master's degree
in Economics
from the University of Chicago
in 1980. His professional career included being a university professor, a consultant and advisor to companies, international investors and financial institutions in Argentina and Latin America
, such as the IMF
, the World Bank
, the CEPAL
, and the IADB
. He also was Chief Economist at the FIEL economic think-tank in Argentina.
In 1999, he entered politics when he was appointed Minister of Defense as a member of the Radical Civic Union
(UCR). He remained in this position until 2001 when he briefly took the position of Minister of Economy
in the government of Argentina
. Enjoying little political support from President, Fernando de la Rúa
, he was fired after 8 days after a wave of protest over his proposed fiscal austerity
project, with which he sought to prevent the 2001 economic crisis, but which sharply cut education spending.
In 2002, he founded his political party Recreate for Growth
and ran for the presidency in the April 2003 elections
, finishing third behind Carlos Menem
and Néstor Kirchner
, with 16.3% of the popular vote. Recently he teamed with Mauricio Macri
to create a new center-right coalition called Republican Proposal
(PRO), which tacitly supported his unsuccessful second bid to the presidency in the 2007 presidential election
. López Murphy did poorly, gaining just 1% of the vote, although PRO did better in provincial and congressional elections.
He is married with three children. In the media López Murphy is often referred to as "the Bulldog
", a nickname he has come to embrace himself.
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
economist and politician.
Career
López Murphy was born in AdroguéAdrogué
Adrogué is a city in Greater Buenos Aires, Argentina, located 23 km south of Buenos Aires. It is the capital of the Almirante Brown Partido ....
, Buenos Aires Province
Buenos Aires Province
The Province of Buenos Aires is the largest and most populous province of Argentina. It takes the name from the city of Buenos Aires, which used to be the provincial capital until it was federalized in 1880...
. He attended the National University of La Plata, where he was awarded the title of "Licenciado en Economía" (a degree in Economics comprising four years of study) in 1975. He then went on to get his Master's degree
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
in 1980. His professional career included being a university professor, a consultant and advisor to companies, international investors and financial institutions in Argentina and Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
, such as the IMF
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
, the World Bank
World Bank Group
The World Bank Group is a family of five international organizations that makes leveraged loans, generally to poor countries.The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary...
, the CEPAL
United Nations Economic Commission for Latin America and the Caribbean
The United Nations Economic Commission for Latin America and the Caribbean was established in 1948 to encourage economic cooperation among its member states. In 1984, a resolution was passed to include the countries of the Caribbean in the name...
, and the IADB
Inter-American Development Bank
The Inter-American Development Bank is the largest source of development financing for Latin America and the Caribbean...
. He also was Chief Economist at the FIEL economic think-tank in Argentina.
In 1999, he entered politics when he was appointed Minister of Defense as a member of the Radical Civic Union
Radical Civic Union
The Radical Civic Union is a political party in Argentina. The party's positions on issues range from liberal to social democratic. The UCR is a member of the Socialist International. Founded in 1891 by radical liberals, it is the oldest political party active in Argentina...
(UCR). He remained in this position until 2001 when he briefly took the position of Minister of Economy
Minister of Economy of Argentina
The Minister of Economy is the head of the Ministry of Economy and Production of Argentina, concerned with finance and monetary matters. The position within the Government of Argentina is analogous to the finance ministers of some countries and the United States Treasury Secretary...
in the government of Argentina
Government of Argentina
The government of Argentina, functioning within the framework of a federal system, is a presidential representative democratic republic. The President of Argentina is both head of state and head of government. Executive power is exercised by the President. Legislative power is vested in both the...
. Enjoying little political support from President, Fernando de la Rúa
Fernando de la Rúa
Fernando de la Rúa is an Argentine politician. He was president of the country from December 10, 1999 to December 21, 2001 for the Alliance for Work, Justice and Education ....
, he was fired after 8 days after a wave of protest over his proposed fiscal austerity
Deficit hawk
Deficit hawk is an American political slang term for people who place great emphasis on keeping the federal budget under control. Deficit hawks believe the best way to reduce the deficit, pay off national debt, and balance the budget is by a combination of increasing taxes and cutting government...
project, with which he sought to prevent the 2001 economic crisis, but which sharply cut education spending.
In 2002, he founded his political party Recreate for Growth
Recreate for Growth
Recreate for Growth was a conservative liberal political party in Argentina, that existed from 2002 to 2009.The party was formed in March 2002, mostly by market-oriented members of the Radical Civic Union, headed by Ricardo López Murphy....
and ran for the presidency in the April 2003 elections
Argentine general election, 2003
Argentina held presidential and parliamentary elections on Sunday, April 27, 2003. Turnout was 78.2% and the results were as follows:-Argentine Congress:-Background:...
, finishing third behind Carlos Menem
Carlos Menem
Carlos Saúl Menem is an Argentine politician who was President of Argentina from 1989 to 1999. He is currently an Argentine National Senator for La Rioja Province.-Early life:...
and Néstor Kirchner
Néstor Kirchner
Néstor Carlos Kirchner was an Argentine politician who served as the 54th President of Argentina from 25 May 2003 until 10 December 2007. Previously, he was Governor of Santa Cruz Province since 10 December 1991. He briefly served as Secretary General of the Union of South American Nations ...
, with 16.3% of the popular vote. Recently he teamed with Mauricio Macri
Mauricio Macri
Mauricio Macri is an Argentine businessman turned politician, and Head of Government of the Autonomous City of Buenos Aires. Son of Francisco Macri, a businessman of Italian origin prominent in the industrial and construction sectors, he represented the City of Buenos Aires in the Lower House of...
to create a new center-right coalition called Republican Proposal
Republican Proposal
Republican Proposal is a right-wing political party in Argentina. It is usually referred to as PRO. PRO was formed as an electoral alliance in 2005, but was transformed into a unitary party on 3 June 2010....
(PRO), which tacitly supported his unsuccessful second bid to the presidency in the 2007 presidential election
Argentine general election, 2007
Argentina held national presidential and legislative elections on October 28, 2007, and elections for provincial governors took place on staggered dates throughout the year. For the national elections, each of the 23 provinces and the Autonomous City of Buenos Aires are considered electoral districts...
. López Murphy did poorly, gaining just 1% of the vote, although PRO did better in provincial and congressional elections.
He is married with three children. In the media López Murphy is often referred to as "the Bulldog
Bulldog
Bulldog is the name for a breed of dog commonly referred to as the English Bulldog. Other Bulldog breeds include the American Bulldog, Olde English Bulldogge and the French Bulldog. The Bulldog is a muscular heavy dog with a wrinkled face and a distinctive pushed-in nose...
", a nickname he has come to embrace himself.