Commentary: At Last A Real Payoff From Brazil's Real Plan

The sign in a trendy Sao Paulo beauty salon boasts that its $16 charge for a haircut hasn't changed since May, 1995. The resale price of scarce phone lines has dropped 25%, heralding the planned privatization this year of Brazil's badly run phone system. The round-trip fare between Sao Paulo and Rio de Janeiro has plummeted from $300 to less than $200 since the Civil Aviation Dept. deregulated fares and flight frequencies late last year.

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