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Miguel de la Madrid

President of Mexico from 1982 to 1988

  • 21 min read
  • 8 chapters

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Through Policy, Inflation and Unemployment

Inheriting a severe economic and financial crisis from his predecessor José López Portillo as a result of the international drop in oil prices and a crippling external debt on which Mexico had defaulted months before he took office, De la Madrid introduced sweeping neoliberal policies to overcome the crisis, beginning an era of market-oriented presidents in Mexico, along with austerity measures involving deep cuts in public spending. In spite of these reforms, De la Madrid's administration continued to be plagued by negative economic growth and inflation for the rest of his term, while the social effects of the austerity measures were particularly harsh on the lower and middle classes, with real wages falling to half of what they were in 1978 and with a sharp rise in unemployment and in the informal economy by the end of his term.

De la Madrid's administration was also famous for his "Moral Renovation" campaign, whose purported goal was to fight the government corruption that had become widespread under previous administrations, leading to the arrests of top officials of the López Portillo administration.

In addition, his administration was criticized for its slow response to the 1985 Mexico City earthquake, and the handling of the controversial 1988 elections in which the PRI candidate Carlos Salinas de Gortari was declared winner, amid accusations of electoral fraud.

Early life and education

Miguel de la Madrid was born in the city of Colima, Colima, Mexico. He was the son of Miguel de la Madrid Castro, a notable lawyer (who was assassinated when the future President was only two), and Alicia Hurtado Oldenbourg. His grandfather was Enrique Octavio de la Madrid, the governor of Colima.

He graduated with a bachelor's degree in law from the National Autonomous University of Mexico (UNAM) —one of his teachers there, José López Portillo, would later become President of Mexico— and received a master's degree in Public Administration from the John F. Kennedy School of Government at Harvard University, in the United States.

In 1953, he was introduced to Paloma Cordero by her older brother. The couple began dating in 1955 and married four years later at the Santa Rosa de Lima Church in Cuauhtémoc in 1959. Cordero and de la Madrid had five children - Margarita, Miguel, Enrique Octavio, Federico Luis and Gerardo Antonio.

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