Julio H. Cole is Professor of Economics at Universidad Francisco Marroquín, in Guatemala, and editor of the journal Laissez-Faire. He earned both his undergraduate degree (licenciatura) and his Ph.D. in economics from Universidad Francisco Marroquín. He is the author of several books, including Latin American Inflation: Theoretical Interpretations and Empirical Results (1987), and Elementos de Econometría Aplicada (2nd ed., 2006), and has published articles in Journal of Economic Growth, Banca Central, Journal of Libertarian Studies, Cato Journal, Ciencias Económicas and Independent Review. Email: jhcole@ufm.edu.gt.