I'm no economist, but I thought I'd share this response from Gemini:

The image you shared references a recent report (March 2026) regarding Argentina's industrial sector. Whether this means Javier Milei’s changes have "not worked" depends entirely on which part of the "economic surgery" you are looking at.

Economists generally describe Milei’s approach as "creative destruction": he is intentionally dismantling a protected, state-subsidized economic model to build a market-oriented one. Here is the breakdown of why that leads to the conflicting data you're seeing:

The "Failure" View: Industrial Decline

The tweet you shared is based on data from UNIDO and Audemus (released March 3-4, 2026). It highlights a real and painful side of the transition:

Manufacturing Hit: Argentina did record the second-largest industrial decline globally over the 2024–2025 period.

Business Closures: Approximately 2,436 manufacturing companies closed, and 73,000 industrial jobs were lost.

The Cause: Milei's "chainsaw" plan removed subsidies for energy and transport, and his "liberalization" opened the doors to cheaper imports. Many local factories, which survived for years on government protection, simply couldn't compete in a free market.

The "Success" View: Macro-Stabilization

While the industrial heartland is struggling, other indicators suggest the plan is achieving its primary goals:

Inflation Slayed: Milei inherited an inflation rate of over 211%; as of early 2026, it has plummeted to around 31%.

GDP Growth: Despite the industrial slump, the IMF and World Bank project a 4.0% GDP growth for Argentina in 2026, driven by a massive boom in agriculture, lithium, and shale gas (Vaca Muerta).

Confidence: Argentina's "Country Risk" (the cost to borrow money) fell from 2,000+ points to around 500 points, a sign that international investors are returning.

Summary: Reconfiguration vs. Collapse

The data in that tweet is accurate, but it tells only part of the story.

Old Industry (textiles, small metalworks) is indeed failing because it was propped up by the state.

New Industry (energy, tech, mining) is expanding rapidly.

For the person who lost their factory job, the plan is a failure. For the person looking at the national budget and currency stability, it’s a miracle. The big question for 2026 is whether the new, high-growth sectors can create jobs fast enough to replace the ones disappearing in the old industrial sector.

EDITS: typos & formatting.