Loading ...The Great (Freedom) Reset Has Begun
Most important and least mentioned this week is that under the wild exterior, Milei has it where it counts: he has two masters degrees and has “been a professor of macroeconomics, economics of growth, microeconomics, and mathematics for economists” with specializations in economic growth. He has held prominent roles in various financial and government sectors, too. He was the chief economist at Máxima AFJP, a private pension firm, and at Estudio Broda, a financial advisory. He also consulted for the International Centre for Settlement of Investment Disputes and was a senior economist at HSBC Argentina.
In other words, the “bold” financial ideas aren’t just bluster. They just seem like that to the rest of the world because Milei knows the actual solution to his nation’s problem just happens to be starkly different from the path it (and many other nations) have gone down.
It appears he is a critical thinker too. One of the 20% who does not herd.
““been a professor of macroeconomics, economics of growth, microeconomics, and mathematics for economists” with specializations in economic growth.”
Even more importantly, and like I did but later than he, was that Milei came to the conclusion that much of the macroeconomics he was taught, was bullshit. Not just the Keynesian (use govt borrowing to spend the economy into prosperity at the expense of future generations that have to service the debt), but also and perhaps to a less extent, monetarism. It would be interesting to get his take on Friedman and banking these days. I suspect he’s on board with Hayek and certainly Ayn Rand, altogether. In grad school, these Alternative Paradigms were rarely examined. Steve Keen did a nice job ca 2005 illuminating macro’s deficiencies in his exchanges with Krugman. Keen destroyed him. And then about 10 years ago, Paul Romer came out with “The Trouble With Macro” that set the whole discipline ablaze. I’m not sure its recovered, nor even salvageable.
https://paulromer.net/the-trouble-with-macro/WP-Trouble.pdf