Fungibility Fungibility In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. For example, since one kilogram of pure gold is equivalent to any other kilogram of pure gold, whether in the form of coins, ingots, or in other states, gold is fungible. Other fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies. Fungibility refers only to the equivalence of each unit of a commodity with other units of the same commodity and not to the exchange of one commodity for another, which is barter. The word "fungibility"
Populism in Latin America launch of the State-owned oil-company Petrobrás—that were the hallmark of Vargas' second term as Brazil's democratically elected president (1951–1954) and that led to his eventual suicide. In some countries, Populism has been fiscally supported in Latin America during periods of growth such as the 1950s and 1960s and during commodity price booms such as in oil and precious metals. Political leaders could gather followers among the popular classes with broad redistributive programs during these boom times. Conversely, in others countries, Populism has been historically associated with countering the relative decline of export agriculture with deficit spending and import-substitution policies aimed