Source: EconLog
by Justin Callais
“Soon before the election that made Javier Milei president, 108 economists around the world (including prominent names like Thomas Piketty, Gabriel Zucman, and Jose Ocampo) signed an open letter warning about the dangers of ‘non-traditional’ economic thinking. Even at the time, the letter was cluttered with flawed thinking. The letter then bemoans that ‘the laissez-faire model assumes that markets work perfectly if the government does not intervene.’ While there is some truth to the statement, the letter completely ignores the fact that most of Argentina’s problems over the past decades came about from government failure and over-intervention in the market. … So how has Argentina done with these ‘dangerous’ policies of Milei? Pretty strikingly well, actually.” (08/27/25)