Part 6/11:
In 1976, amidst rampant inflation and economic collapse, Argentina's military junta introduced free-market reforms, believed to be the solution to the nation’s woes. These policies emphasized controlling inflation and reducing government spending while opening the economy to foreign investments. Yet, Argentina's implementation was disorderly and abrupt, leading to a brutal recession that wiped out the inefficient industries that had taken shape under previous regimes.
While some expected these reforms to yield rapid economic recovery, the focus on speculative investment rather than sustained industrial growth only deepened the crisis. With rising inequality and unemployment, the economic landscape in Argentina became increasingly volatile, leading to further cycles of economic turmoil.