“Macri lost because his economic record is abysmal,” @The_Dialogue writes. https://www.thedialogue.org/blogs/2019/08/argentina-back-to-normal/ …
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The consequences are significant: “Mauricio Macri’s failure confirms that there seems to be no politically sustainable way to open up and reform Argentina’s economy,” @The_Dialogue writes. “The immediate social costs of these policies are simply too high for Argentines to bear.”
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That’s a troubling, but defensible conclusion. As I wrote for
@NPR, “their disappointments over the last four years will heavily burden the next outsider who dares to promise market solutions to Argentina's chronic economic maladies.”https://www.npr.org/2019/08/10/748419903/opinion-much-of-argentina-wants-its-populists-back … -
It also depends on what the populists offer. If Fernandez is lucky, there will be a natural recovery and he and his party will take credit. If not, the the populists are probably offering a spending spree and hyperinflation.
End of conversation
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