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Cato's advice to not have substanial inflation has been beneficial to Argentina. Large amounts of inflation are never good for a country's economy.
"they're following the Libertarian economic prescription to the letter!"
Not exactly. Argentina has too many trade barriers, and their courts are too heavily influenced by political interests to properly enforce the rule of law effectively. These are the causes of Argentina's economic problems.
Argenina has made a number of mistakes. But its decision to avoid substantial inflation was a good decision.
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