The economic situation is so complicated there that you probably need to sit through a 60 minute documentary to get an answer to this question, or really understand much about their crisis at all.
It’s very difficult to say whether or not the cure is worse then the disease; they were fucked to start, and the austerity measures weren’t the origin of the unemployment and poverty, but they did exacerbate them. But, they also lower the inflation rate, which itself was the largest cause of hardship, especially poverty.
Is the increase in suffering due to austerity worth the decrease in suffering due to cooling inflation? That’s the real question but I’m not sure anyone knows objectively, yet.
Anecdotally, as someone who spends 3-4 months a year in Buenos Aires: things seem to be getting worse; but they’ve been worsening for a decade, and the rate at which they are getting worse seems to be decreasing. So I guess a sort of Pyrrhic victory…?
And how are the people of Argentina doing? Still experiencing high unemployment and poverty because of this?
The economic situation is so complicated there that you probably need to sit through a 60 minute documentary to get an answer to this question, or really understand much about their crisis at all.
It’s very difficult to say whether or not the cure is worse then the disease; they were fucked to start, and the austerity measures weren’t the origin of the unemployment and poverty, but they did exacerbate them. But, they also lower the inflation rate, which itself was the largest cause of hardship, especially poverty.
Is the increase in suffering due to austerity worth the decrease in suffering due to cooling inflation? That’s the real question but I’m not sure anyone knows objectively, yet.
Anecdotally, as someone who spends 3-4 months a year in Buenos Aires: things seem to be getting worse; but they’ve been worsening for a decade, and the rate at which they are getting worse seems to be decreasing. So I guess a sort of Pyrrhic victory…?