How did Argentina get so bad? Progressives took over in World War I, then used the Depression to break the gold standard and impose Soviet-style industrial policy. It failed, leading to crisis and a takeover by national socialist generals who continued running the economy into the ground. Before handing power to regular socialist civilians who kept it up, hyperinflation after hyperinflation. The good news is the people woke up. The bad news is it took a very long time.
How did Argentina get so bad?
Progressives took over in World War I, then used the Depression to break the gold standard and impose Soviet-style industrial policy.
It failed, leading to crisis and a takeover by national socialist generals who continued running the economy into… pic.twitter.com/Yode9Mxa6K
— Peter St Onge, Ph.D. (@profstonge) November 26, 2023
- Companion article how government spending causes hyperinflation: Peter St. Onge
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