Argentina is far from unregulated. And oftentimes unregulated capitalism placed in dysfunctional economies leads to significant short term contraction. Long term growth depends on putting the correct regulation back into place.
Milei is shitty but ending currency controls will go a long way toward giving the economy a good base. Getting inflation down to a decent level will make it so people will actually use the peso and not do their damnedest to get a hold of a stable currency like the dollar. And that is very important because countries should not be relying on a foreign currency that does not care about local situations. Milei’s idea to dollarize the economy is idiotic in the long run. But I doubt that will actually come into fruition.
Argentina is far from unregulated. And oftentimes unregulated capitalism placed in dysfunctional economies leads to significant short term contraction. Long term growth depends on putting the correct regulation back into place.
Milei is shitty but ending currency controls will go a long way toward giving the economy a good base. Getting inflation down to a decent level will make it so people will actually use the peso and not do their damnedest to get a hold of a stable currency like the dollar. And that is very important because countries should not be relying on a foreign currency that does not care about local situations. Milei’s idea to dollarize the economy is idiotic in the long run. But I doubt that will actually come into fruition.