https://thedailyeconomy.org/article/how-did-108-economists-predict-mileis-results-exactly-wrong/
How Did 108 Economists Predict Milei’s Results Exactly Wrong?
- Leading lights on the left said Milei’s free market reforms would be disastrous. Instead, they’ve been hailed as a miracle.
Jon Miltimore
February 15, 2025
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“Their understanding of how markets work and of how governments work is superficial,” writes Henderson. “I wonder if any of them, seeing the apparent success of Milei’s policies, are questioning their prior views. We can always hope.”
Indeed we can. But for now, it’s not unfair to assume from their silence that they’ve learned little from Argentina’s economic progress.
As President Donald Trump begins his own second term as president, there’s much he can learn from Milei’s first year in office.
This includes ignoring economists who claim that cutting government spending, regulations, and bureaucracy will result in economic devastation. And perhaps most importantly, the danger of using government printing presses to avoid making difficult budget decisions.
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Jonathan Miltimore is Senior Editor at AIER. His writing/reporting has been the subject of articles in TIME, Wall Street Journal, CNN, Forbes, and the Star Tribune. He is a contributor at the Washington Examiner and has had bylines in Fox News, Newsweek, National Review, the Epoch Times, Real Clear Politics, the Washington Times, and other media.
Prior to joining AIER, Jon served in editorial roles at the History Channel magazine and the Foundation for Economic Education. He also served in the Bush Administration as an intern in the Department of Speechwriting. When he is not working, Jon enjoys reading, watching movies, and spending time with his wife and three children. He also coaches youth football, baseball, and wrestling.
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All the little L libertarians knew that, if allowed, Milei’s free market reforms would radically change the incentive structure in that socialist economy. Just like that, freeing people’s competitive skills and ability from the chains of a Welfare State would stun all the pessimists. And it did.
Inflation from 300% to 2.4%. GDP of 5%.
I guess that the people of any country would want stats like that. Now it’s time to get the leadership that will give it to them.
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