[[{“value”:”Bryan Caplan and Daniel Klein both opine on Milei and populism, Dan being very enthusiastic, while Bryan praising Milei but more reserved in his praise of populism. I too am a big fan of Milei, and I think he is still on a good track. If his reforms do not succeed, likely it will not
The post Milei and populism appeared first on Marginal REVOLUTION.”}]]
Bryan Caplan and Daniel Klein both opine on Milei and populism, Dan being very enthusiastic, while Bryan praising Milei but more reserved in his praise of populism. I too am a big fan of Milei, and I think he is still on a good track. If his reforms do not succeed, likely it will not be his fault, but rather the result of soft commodity prices, pending credit lawsuits (predating him), and an impatient public. But so far things are holding up.
What neither Klein nor Caplan mentions — and it is very very important for this issue — is that Milei has hewed pretty closely to the IMF playbook for his most important reforms. He named a very serious and mainstream finance team to oversee his changes. And his plan is dependent on an IMF bailout. The more “populist” elements of the original promises, such as rapid dollarization, have been put on hold indefinitely. In other words, the actual policies, for the most part, are not populist at all.
It is fine to call Milei a populist in some very critical rhetorical regards. But the project is working because he has turned his back on a lot of populism and is mainly following the recommendations of expertise, as well as relying on the IMF.
The post Milei and populism appeared first on Marginal REVOLUTION.
Current Affairs, Economics, Political Science, Uncategorized
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