Understanding Argentina's Paradox from Prosperity to Under-development

A crash course on Argentina's political and economic history. Can Javier Milei shape Argentina's history for the better? By Prof. Nicolas Forsans

Argentina, once among the world’s wealthiest nations, now stands as a cautionary tale of economic mismanagement and political upheaval. Over a century ago, its thriving agricultural exports catapulted it to global prominence. Yet today, the nation grapples with staggering inflation rates exceeding 200%, surging poverty levels, and chronic political turbulence. This stark contrast defines the 'Argentine Paradox'—a journey from prosperity to prolonged crisis.

Amidst this backdrop, Javier Milei, Argentina's newly elected president, has emerged as a polarising figure with a radical agenda. Branded by supporters as a reformist saviour and by critics as 'El Loco' (the mad one), Milei’s unconventional methods and audacious rhetoric have reshaped the country’s political landscape. As his administration approaches its first anniversary, the question looms: has Milei's fiscal shock therapy paved the way for recovery, or deepened the nation's woes?

In this 'InFocus' analysis, we unravel the histor…