Do populists always crash the economy?

Argentina is counting the cost of its turn to Javier Milei. Politicians from Donald Trump to Giorgia Meloni and Nigel Farage will be closely watching what happens next“Cambio, cambio.” Under the blazing sun, dozens of money changers are hawking US dollars along Florida Street, a bustling pedestrian strip in Buenos Aires. Known as arbolitos (“little trees”), they are thriving ahead of the 26 October midterm elections in a country long used to saving in the greenback.“The best time to buy is now,” says one arbolito, declining to give her name. “[The dollar] went down a little but it is a fake-out – it’ll rise again.” Continue reading...