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The analogy is exactly the opposite. Argentina has been getting beat by idiotic populist policy forever. Milei is taking a hands-off approach, which will let th

The analogy is exactly the opposite. Argentina has been getting beat by idiotic populist policy forever. Milei is taking a hands-off approach, which will let the economic fiction disappear. Yes, that will send many people into poverty, but the reality is that Argentina is a poor country and cannot provide high standards if living for everyone.

leidenfrost 3y ago
1) Many times qe had "liberal" governments trying to fix it: Alfonsin, De La Rua, Macri. Even the de facto dictatorship tried to open up the economy. All of them failed. 2) Argentina is not poor. It's a rich country and their agriculture industry is one of the best in the world. However, it's an industry with very little trickle down dynamics, compared to other fields like electronics or the service industry. You don't need that many educated people to export crude oil and unprocessed goods to the world. A "pure" agricultural Argentina would be very financially stable, at the cost of having horribly high levels of inequality, with a (from my POV) inhuman quality of life for the average person. And no country in the world would favor that.
- zeroCalories 3y ago
  1) And they continually get undermined by populists, just as is happening here. 2) Argentina has the GDP of a third world country. It is poor. You don't need natural resources to be a wealthy country, you need efficient industry. You will never get that as long as Argentina continues its populist policies. I'm not even against government spending, but the spending needs to be done tactically, like east Asian countries, not for "muh workers".
leidenfrost 3y ago
> Yes, that will send many people into poverty, but the reality is that Argentina is a poor country and cannot provide high standards if living for everyone. The point of any talk about economics is to create prosperous nations and long lasting well being for the people. Not to make a number look good on paper. If you think that most people should live terrible lives just to have low rates of inflation, you just failed economics.
- zeroCalories 3y ago
  You will never get a prosperous nation for everyone if you have a wasteful crab bucket economy. Yes, some people will need to be cut off. Hopefully they will find a more productive way to live, or die.

leidenfrost 3y ago

1) Many times qe had "liberal" governments trying to fix it: Alfonsin, De La Rua, Macri. Even the de facto dictatorship tried to open up the economy. All of them failed. 2) Argentina is not poor. It's a rich country and their agriculture industry is one of the best in the world. However, it's an industry with very little trickle down dynamics, compared to other fields like electronics or the service industry. You don't need that many educated people to export crude oil and unprocessed goods to the world. A "pure" agricultural Argentina would be very financially stable, at the cost of having horribly high levels of inequality, with a (from my POV) inhuman quality of life for the average person. And no country in the world would favor that.

zeroCalories 3y ago
1) And they continually get undermined by populists, just as is happening here. 2) Argentina has the GDP of a third world country. It is poor. You don't need natural resources to be a wealthy country, you need efficient industry. You will never get that as long as Argentina continues its populist policies. I'm not even against government spending, but the spending needs to be done tactically, like east Asian countries, not for "muh workers".

leidenfrost 3y ago

> Yes, that will send many people into poverty, but the reality is that Argentina is a poor country and cannot provide high standards if living for everyone. The point of any talk about economics is to create prosperous nations and long lasting well being for the people. Not to make a number look good on paper. If you think that most people should live terrible lives just to have low rates of inflation, you just failed economics.

zeroCalories 3y ago
You will never get a prosperous nation for everyone if you have a wasteful crab bucket economy. Yes, some people will need to be cut off. Hopefully they will find a more productive way to live, or die.