Argentina's Economic Decline Holds Warning for UK's Fiscal Direction
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Argentina's economic decline over past decades is a warning for the UK as it heads in the wrong fiscal direction.
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Newly elected Argentine President Javier Milei has a bold libertarian vision to revive Argentina's economy by shrinking government's role.
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The UK made post-WW2 policy mistakes nationalizing industry and creating a large welfare state that still burden the economy today.
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Although not yet as bad as 1970s UK decline, the current fiscal path of more tax/spending is reducing growth and productive capacity.
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As Milei says, countries are viable if leaders pursue the right economic strategy. The UK needs the determination to set a new free market-oriented course.