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.

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.

  • cygnus@lemmy.caEnglish
    202·
    3 天前

    Except, if we were to read the article, things are materially worse than when he took office:

    Milei had predicted a V-like recovery with the creation of new jobs in a more prosperous and stable economy. Instead, the economy stalled out, declining in the second quarter compared with the previous three months. Unemployment is at 7.6%, up from 5.7% when Milei took office. And Argentina has about 200,000 fewer jobs since he took office, government data shows.

    • FaceDeer@fedia.io
      108·
      3 天前

      And Argentina’s hyperinflation is way down. Argentina had 112% inflation previously. Economies are complicated and you can have good things happening alongside bad things, for various reasons.

      • cygnus@lemmy.caEnglish
        112·
        3 天前

        Inflation is arguably down mostly because of austerity measures which have not addressed any fundamental problems, only kicked them down the road.