was inaugurated as president of Argentina nearly five months ago, he but must feel as if he has passed a political lifetime., and he was keen to defend his radical economic policies. The approach he has taken of deregulation and major public spending cuts have met determined opposition and outrage in some quarters, but the president’s response is that, while the situation will take years to recover fully, he is moving in the right direction.
Milei was elected as a last-gasp hope for change. The long years of Peronism – that strange blend of militaristic nationalism and almost Marxist levels of state control of the economy and high public spending – and the military control of the so-called National Reorganisation Process failed to address Argentina’s underlying challenges. It was no wonder that the electorate was willing to embrace anyone who seemed to grasp the scale of necessary change.
Undoubtedly there has been ongoing economic hardship. Prices continue to rise more quickly than salaries and pensions, and some staples like milk have doubled in price. It is not hard to find heart-rending tales of Argentinians who are in despair as they try to make ends meet. Milei argues that his economic programme is beginning to take effect: interest rates have been cut repeatedly and inflation seems to be slowing, although it remains dizzyingly high.
Identifying the mistakes and shortcomings of your opponents is the easy part of politics. Sometimes it is all that is necessary: the periodic appetite of voters for change is a powerful force and they are not always discriminating in examining the details of that change.
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