Argentina: A cultural battle is needed to reduce inflation and increase investment

Source: Linkedin News
By: Aldo Leporati

The triumph of Cambiemos in 2015 represented a fundamental milestone for the lives of Argentines, a milestone of hope to reverse more than 50 years of populism in Argentina. But does the majority of Argentine society really want to reverse this decline? Are they willing to tolerate the sacrifices this implies?

Based on certain economic indicators such as an inflation index below 5%, an investment level above 20%, reducing the brutal tax burden, etc., collective behaviors guided by the rationality and responsibility that lead invariably to raise social and human standards. Achieving these indicators is already normal in countries of the Southern Cone. Peru had an annual inflation of 1.4% in 2017 and an investment rate of 25%. Chile with 2.8% and 22%, respectively. And Brazil, 3% inflation and a meager level of investment (19%) because of its political and economic crisis.

While the country coexists with high inflation rates and poor levels of investment, it will continue on the downward path in which populism entrenched the minds of Argentines, to such an extent that changing reality implies above all a cultural battle against the habit of spending more than what it produces. The reduction of poverty, the great objective, will only begin to operate when these levels of inflation and investment can be combined, as a natural and logical consequence. Wisely, the government opted for gradualism to avoid the effects of a shock, but that does not mean that society should not do the duties of the case. Or to transfer all responsibility to the rulers for a mismatch that is structural, inefficient, corrupt and opportunistic where they almost always put their interests above the general interest. Much of society demands and acts as if the country is in balance and also seeks to dissociate itself from any cost or responsibility for the waste that was committed in the last 50 years of populism.


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