Argentina and the Philippines: Similar development struggles

• Main Authors: Felipe, Jesus, Vernango, Matias
• Format: text
• Published: Animo Repository 2023
• Subjects: Argentina; Philippines; Growth and Development; Economic Development; Economic Outlook; Economic History
• Online Access: https://animorepository.dlsu.edu.ph/res_aki/177; https://animorepository.dlsu.edu.ph/context/res_aki/article/1178/viewcontent/DLSU_AKI_Policy_Brief__2023_12_013.pdf
• Institution: De La Salle University

ALTHOUGH the economies of Argentina and the Philippines are very different, the two share structural problems that make both nations’ development a complex process. The election of Javier Milei as the new president elect of Argentina, gives us the opportunity to review the differences and parallels between the two economies. Milei is a radical libertarian populist economist with authoritarian tendencies. His proposals range from the dangerous in economics (dollarization, closing the Central Bank, a drastic reduction of social spending) and social issues (curtail human rights and democratic advances, loosen gun ownership laws, and the elimination of all those institutions that would have any relationship with his two biggest obsessions: the State and the “political caste”) to the insane: institute a free market for human organs. His election has shocked many in Argentina, but the reasons for his rapid rise are not hard to find. The Philippines has also had its share of populist presidents with also questionable ideas and behavior.