Leading lights on the left said Milei’s free market reforms would be disastrous. Instead, they’ve been hailed as a miracle.
by Jon Miltimore
The Daily Economy
In November 2023, the warning came, as clear as an omen.
A political upstart was seeking office and, if elected, his policies were likely to cause “devastation” in his own country and “severely reduce policy space in the long run.”
The threat was a chainsaw-wielding disciple of Austrian economics from Argentina who embraced laissez-faire economics. The predictions of doom came not from Old Testament prophets, but 108 economists who signed a public letter saying his anachronistic ideas had long ago been discredited.
“As economists from around the world who are supportive of broad-based economic development in Argentina, we are especially concerned by the economic program of one of the candidates, which has become a major issue of discussion in the national election,” the letter read.