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" ... It is unclear if the social pact that Fernández and his team are looking to introduce will succeed in rooting inflationary momentum and activating the economy. Yet, the rejection of austerity as the only way out of Argentina’s crisis, which appears to be Guzmán’s main contribution, seems like the right way out of this mess. And, the idea of macreconomic coherence, in particular given the fiscal deficit and the size of the debt pile, gives the rejection of austerity a logical framework. Now, it’s time to see if the economist can put his theoretical toolbox to work on the real economy. ... "