this post was submitted on 10 Oct 2025
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In Argentina, President Javier Milei has screwed the economy up so badly he needs a $20 billion bailout. That’s because his “free market” economics don’t actually work.

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[–] Humana@lemmy.world 10 points 4 days ago* (last edited 4 days ago)

I get what you're saying and agree with the basic premise, "economies are extremely complicated and it's hard to ascribe x caused y, when so many other things can go sideways". It drives me nuts when people think the US president controls oil prices, if they did it would just be perpetually free!

Where I wholeheartedly disagree with your message is because Milei promised quick and easy solutions to Argentina's economy. He sold the story that 100 years of economic turmoil was due to corruption and gross incompetence. He promised he was not corrupt (which was a lie), and applying some basic economic principals would lead to a roaring economy (which never materialized and never will because economists already know the policies he's proposing don't work in the long run).

Yes his austerity measures led to inflation going down which his foreign apologists immediately point to, but the exchange rate skyrocketed offsetting any gains for a typical Argentine (most everything financial in Argentina is measured in USD, even ironically government fees).

If today you go ask typical Argentines "are you better off financially now than 3 years ago" the answer is going to usually be no.