Just as the commandment “Thou shalt not kill” sets a clear limit in order to safeguard the value of human life, today we also have to say “thou shalt not” to an economy of exclusion and inequality. Such an economy kills.It is hard to take this criticism seriously, especially when we consider the alternative: the Pope grew up a Peronist from his early days of Argentina, a populist movement responsible for the wreckage of millions of lives in the name of “inclusion.” Here is an historical perspective:
How did a Christian country, with a European population, a negligible racial problem, and enormous natural and agricultural wealth screw up? How did a country with a liberal constitution cycle in and out of dictatorship? How did a country that was the fourth-richest per capita on the planet in 1929 fall so hard? How is it that Argentina regularly cycles between enormous first-world wealth and third-world economic collapse?
The answer, in a word, is government. Argentina is a frightening example to prove that bad government can destroy even a potential heaven on earth.
It boils down to the basic concept of spending more money than you can make, and cutting off long-term sources of potential financing in order to make short term ends meet. Businesses have been fleeing Argentina since 2010 due to impossibly high taxes, the inability to repatriate gains, and the inability to acquire imported inputs. Agriculture exporters hoard their products rather than fork over ungodly sums to the government. Foreign investors sit on the sidelines waiting for something to break, and Argentina has to pay extremely high interest rates to lenders.
The interesting aspect of this kind of populist critique linkage it creates between politics and economics: Argentina seems caught in a cycle between populism==>economic collapse==>dictatorship, ... .