In the days leading up to the November 2023 presidential election in Argentina, a hundred 'leading' economists from around the world...published an open letter warning that 'radical right-wing economist' Javier Milei would inflict 'devastation' and social chaos on his country. They said it like it was a bad thing. By the time Milei unexpectedly won the presidency, Argentina, once one of the wealthiest nations in the world, had a poverty rate of over 40% and the third-highest inflation rate in the world.
Seven months later, Argentina was out of the recession that had set in before Milei's victory. The chainsaw-wielding economist, 'el Loco' to friends, followed through on his promise of 'shock therapy,' prioritizing taming inflation by cutting spending and deregulating the economy.
Governments in the modern West are always bragging about spending their way out of economic tribulations (problems they usually instigate). If a person suggests that free-market economic policy would have been more beneficial in the long term, they are forced to rely on a counterhistory.
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