The implosion of Argentina is a very complex issue, but, essentially, the country allowed itself to be informally dollarized and ceded control over most of its industries to international (read corporativist) interests. When Perón restructured the country, it was done with a limited scope and with relatively short term changes, causing their economy to collapse again later (it doesn't help that Brazil, a powerful potential ally, had undergone a rightwing U.S.-backed coup at the time). Then, the whole Falklands/Malvinas war happened, all rightwing bullshit, and the country still hasn't bounced back.

[–] LufyCZ@lemmy.world 0 points 2 years ago (1 children)

Makes sense, if stuff is subsidized, the government has to pay for it. If the government doesn't have money to pay for it, they'll just print it out of thin air, devaluing the currency (and thus taxing the working class).

There's gonna be a lot of pain for Argentinians in the months and years to come, hopefully it'll all be worth it...

[–] nekandro@lemmy.ml 0 points 2 years ago (1 children)

Austerity measures and privatization are basically never worth it.

[–] Ddhuud@lemmy.world 0 points 2 years ago* (last edited 2 years ago) (1 children)

No, you're right, let's better keep our ruler class' pockets full. That won't bite us in the ass.

[–] Eldritch@lemmy.world -1 points 2 years ago

Then tax or seize their wealth. The loss of subsidies will specifically hurt the poorer much harder than the wealthy. The wealthy will just push their increased burden from loss of subsidies off onto the poor like they always do.