How to create wealth... or destroy it
The article discusses the Argentine population's enduring trust in economic analysts despite decades of failures and questions the validity of their theories.
The article poses a critical question about why the Argentine public, particularly the media, continues to hold faith in economic analysts after nearly 70 years of economic failures. It suggests that there is an extraordinary level of naivety and ignorance among Argentines regarding the perceived link between these analysts' ideas and the wealth generated in developed nations. It argues that other professions do not enjoy the same level of trust, which raises significant concerns about the public's understanding of economic theories.
The piece critiques the long-standing acceptance of macroeconomics in Argentina, describing it as an artificial construct that fails to capture the complexities of the nation's economic reality. It highlights that macroeconomic indicators, such as fiscal deficit, are superficial and can be manipulated by those in the field. This manipulation, according to the author, leads to misguided policies that have historically resulted in economic instability rather than prosperity.
Ultimately, the article calls for a reevaluation of the reliance on traditional economic theories and advocates for a more grounded and realistic approach to understanding and improving Argentina's economy. It emphasizes the need for a critical perspective on the ideas circulated by so-called experts and encourages a deeper examination of the alternative pathways to wealth creation that do not rest on discredited economic models.