As annual inflation soars beyond 100%, Argentina’s economic paradox is revealed through a unique visual narrative in Dead Cow Rising by Andreas Billman.
The photobook presents the striking yet still landscapes of Argentina, mostly from the region of Vaca Muerta, known as ’Dead Cow’ in English. As one of the world’s largest shale oil and gas reserves, this region symbolizes Argentina’s undeniable yet controversial potential as a major energy exporter and a source of hope for its economic recovery.

However, this potential is juxtaposed by the reality of Argentina’s rising inflation, which has eroded the value of its currency and the purchasing power of its people. To illustrate this paradox, each photo in the book is titled with the inflation rate based on the date it was taken. The project commences in late December 2021, setting a baseline of 0% inflation. Through two visits, roughly a year apart, the subsequent photographs document the rise of inflation, culminating at 110% a year later.
The result is a striking visual narrative that captures the complexity of Argentina’s path, where economic potential and reality collide.