"If printing money could end poverty, printing diplomas could end stupidity." - Javier Milei
I really like this quote from the Argentinean President Javier Milei. He is a very interesting character who was elected before Christmas last year, meaning he still hasn't had a lot to time to show what he is capable of.
Argentina is a country fighting super-inflation, and Javier Milei has for example said that he wanted to abolish the local currency entirely and make people use the American Dollar instead. Of course, that is a tough job and not easy to accomplish, and he also needs to keep the country in peace, so good luck on that... but it is still interesting to see this quote from the President of a country facing super-inflation.
"If printing money could end poverty, printing diplomas could end stupidity."
What is he saying? Printing more money doesn't solve any problems. It just inflates the currency, making the present money we have lose value. Giving someone a diploma doesn't make them smart, just like giving someone money doesn't make them rich. Of course, giving one person money would make them rich, but if you try to end poverty by printing new money and giving them to everyone, that will just increase the trouble, and make the money others already own lose value.
Dollarization of Argentina's economy is indeed a complex issue. It could have certain advantages, such as currency stability and reduced inflation, but as the experience of other countries shows, this process can be challenging and have side effects. For instance, the lack of flexibility in monetary policy could limit the government's ability to respond to economic shocks.
This sounds like a very AI generated comment, don't you think?
@thevpnboss Just a little bit