"Economists' U-Turn: Why a Leading Progressive Turned to Defending Laissez-Faire Economics. A stunning reversal has taken place in the world of economics, as over 100 leading experts, including the influential Thomas Piketty, have publicly endorsed laissez-faire policies that were previously deemed disastrous. The shift in stance comes in response to Argentina's presidential candidate Javier Milei, who has championed unregulated markets and limited government intervention. As economists who once warned of the dangers of such policies, their sudden change of heart raises questions about the validity of their previous predictions and the true nature of their concerns."
Capitalism remains undefeated. In 2023, over 100 leading economists from around the world, including progressive darling Thomas Piketty, signed a letter warning that “far-right” Argentine presidential candidate Javier Milei’s policies, which were “rooted in laissez-faire economics,” would cause “devastation,” spike inflation, expand poverty and worsen unemployment. Celebrated economists never penned any open letters warning that...
