US News Metro Long Island Politics

Sports NFL MLB Olympics NBA NHL College Football College Basketball WNBA

Business Personal Finance

Entertainment TV Movies Music Celebrities Awards Theater

Lifestyle Weird But True Sex & Relationships Viral Trends Human Interest Parenting Fashion & Beauty Food & Drink Travel

Health Wellness Fitness Health Care Medicine Men’s Health Women’s Health Mental Health Nutrition

Science Space Environment Wildlife Archaeology

Today’s Paper Covers Columnists Horoscopes Crosswords & Games Sports Odds Podcasts Careers

Email Newsletters Official Store Home Delivery Tips

Switch between CA and NY editions here.

The lesson behind Argentina’s miracle recovery — after rolling back socialism

Capitalism remains undefeated. 

In 2023, over 100 leading economists from around the world, including progressive darling Thomas Piketty, signed a letter warning that “far-right” Argentine presidential candidate Javier Milei’s policies, which were “rooted in laissez-faire economics,” would cause “devastation,” spike inflation, expand poverty and worsen unemployment.

Celebrated economists never penned any open letters warning that the preceding Peronists’ or Kirchnerists’ perverse blend of fascism, socialism and unionism would drive Argentina — once one of world’s wealthiest nations — into destitution, unemployment, soaring inflation and bankruptcy.

But that’s how it always goes.   Under Milei, political scientist Ian Bremmer warned, “Economic collapse is coming imminently.”

Felix Salmon, then chief financial correspondent at Axios (now at Bloomberg), argued that Milei’s “wrecking ball” policies would plunge Argentina into “a deep recession.”

Couple found embracing after dying in flash flooding while driving home from wedding

Viral trend in Argentina has young people identifying themselves as animals

Major win for ultra-conservative gives Chile its most right-wing president in decades

When the United States provided Argentina with a $20 billion currency swap line last year, former New York Times columnist and Milei critic Paul Krugman argued that there’s “no plausible........

© New York Post