More than 100 specialists, including Thomas Piketty, Jayati Ghosh and Branko Milanovic, assured that his ideas are “very harmful to the economy and the people.”
10 days before the ballot in our country, More than 100 international economists signed an open letter against Javier Milei. The letter signed by Thomas Piketty, Jayati Ghosh and Branko Milanovic, among others, he warns that, if elected president, the libertarian will cause “more economic devastation and social chaos” in Argentina.
These economists emphasize that, although they understand “the deep desire for economic stability,” “simple solutions” will likely “cause more devastation in the short term” and severely reduce the political possibilities to act in the economy.
The letter indicates that Milei’s proposals (“a radical departure from traditional economic thinking”) are “full of risks that make them “potentially very damaging to the economy and the people of Argentina.”
Warnings from international economists about Milei’s ideas
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Argentine News
In the letter revealed by The Guardian, the economists warn that “a large reduction in state spending would increase the already high levels of poverty and inequality, and could result in an increase in social tension and conflict.”. “The dollarization and fiscal austerity of Javier Milei’s proposals ignore the complexities of modern economiesignore the lessons of historical crises and open the door to accentuate already severe inequalities,” they wrote.
Ghoshan economist at the University of Massachusetts Armherst, told the English media that they are concerned about the situation since “Milei’s policies would deeply harm Argentina and they would be very unfortunate for the entire continent.” “It is not only about the social chaos that it would generate, but also the economic chaos that will ensure a decline in both public spending and state profits,” he indicated and sentenced: “Argentines are going to vote in a very difficult election, but a libertarian solution that makes the public sector a villain will only bring suffering.”
Source: Ambito
