Argentinian president Javier Milei is trying to turn around his country's troubled economy. Photograph: Luis Robayo/Getty
Economies are on my mind: Australia, where I’m on a book tour; Argentina, which just voted again for Javier Milei’s party; and Ireland where we elected a president who could be described as hard-left.
Australia is the country that Argentina should have been: prosperous and pragmatic. And Argentina is the country that Ireland, now prosperous but fragile, might yet become.
Economic history is replete with examples of good countries going bad and of bad countries coming good. From the mid to late 20th century, Argentina was a good economy that went bad. In the very late 20th and early 21st centuries, Ireland was a bad economy that came good. Australia was a large sheep farm until 1960, but, as Argentina faltered, the Aussies prospered.
Looking ahead, Ireland must make some economic choices that will determine whether we follow Australia or Argentina.
In the early 20th centu
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