2024-01-17 23:29:46
The dissertation “Freedom, the key to prosperity” of the president Javier Miley at the Davos Economic Forum that caused repercussions in several areas.
Many of the concepts of his speech, in some cases verbatim, had been offered by Milei in a TED talk held in 2019, in San Nicolás, titled “The thunderous superiority of capitalism”.
On the YouTube channel, the speech is described this way: “In his talk he tells us through data, concepts and studies how throughout history Capitalism has proven to be superior to other systems. Through fun metaphors it seeks to explain these ideals so that any audience can understand them.”
Javier Milei in Davos: what the world’s media said regarding his speech at the World Economic Forum
Deputy Martin Tetazon his
“Insists with the straw man of socialism and lost a unique opportunity to present the businesses that Argentina can offer to the world,” Tetaz added.
Some concepts to compare are the following:
Economic growth and GDP per capita
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TED Talk 2019: “Notice that between zero and 1800 the growth rate was 0.02% in per capita terms. During the 19th century, it accelerates almost 33 times jumping to 0.65%. In the first 50 years of the 20th century, it grew at 1.06, in the second part 2.1%, and today the world grows at 3%. What does this mean? a phenomenal acceleration of growth. If you consider that the national accounts underestimate 1.15% growth, today the world would be growing close to 4.15% per capita. That means that over 100 years we will be multiplying GDP per capita by 60 times. That is to say that in a century we will be achieving 4.6 times more than we achieved in the history of humanity. And that manifests itself in what? GDP per capita doubles: originally it took 3,466 years. Later in the 19th century that number fell to almost 107, then to 65.74 in the first part of the 20th century. In the second, 33.35%. And now, 23.45%″.
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Davos 2024: During the entire period – between year zero and 1800 – the GDP per capita growth rate remained stable at around 0.02 percent annually. That is, practically no growth; Starting in the 19th century with the industrial revolution, the growth rate increased to 0.66 percent. At that rate, to double GDP per capita, it would need to grow for 107 years. Now, if we look at the period between 1900 and 1950, the growth rate accelerates to 1.66 percent, annually. We no longer need 107 years to double GDP per capita, but 66. And if we take the period – between 1950 and 2000 – we see that the growth rate was 2.1 percent annually, which would result in In just 33 years we might double the world’s GDP per capita.
Growth and wealth
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TED Talk 2019: “Those countries that are freer grow more than twice as much as those that are repressed. The consequence is that those that are freer have a GDP per capita almost eight times larger than that of repressed countries. The lowest decile of the distribution (the poorest) in free countries earn 11 times more than what repressed countries earn. Those in the lowest decile, that is, the poorest, in the freest countries have twice the income of the average citizen of the repressed country. In countries that are free, poverty is 25 times less.
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Davos 2024: “Those countries that are freer are eight times richer than the repressed ones. The lowest decile of the distribution of free countries lives better than 90% of the population of repressed countries; they have 25 times fewer poor people in the standard format and 50 times fewer in the extreme format. And if that were not enough, citizens of free countries live 25% longer than citizens of repressed countries.”
Capitalism
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TED Talk 2019: “They cannot do well in capitalism without serving their neighbors with quality goods at a better price.”
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Davos 2024: “You can only be successful by serving others with better quality goods at a better price.”
LM
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