Anarcho-Libertarianism For Argentina

[paserbyp]

Who has four cloned dogs named after conservative economists and wants to permit the sale of human organs? The front-runner Javier Milei to be the next president of Argentina, that’s who.

Following his shocking presidential primary win on Sunday, far-right libertarian Javier Milei has been explaining his radical economic plan for Argentina in interviews. Milei, who before entering politics performed in a Rolling Stones cover band and played on a second-tier soccer team, has attracted comparisons to former President Trump for his anti-establishment rhetoric, calls to drain a swamp of the corrupt political elite, and curiously tousled hair (his nickname: The Wig).

While Milei has appealed to Argentines who are understandably fed up with their country’s flailing economy, investors are concerned he’s going to rock a boat that’s already on the verge of tipping over—his win caused the peso to tumble and forced the government to devalue the currency by 18%.

If you thought 9% inflation in the US was wild, consider the demolition of purchasing power in Argentina, where inflation is over 115%, the largest denomination peso banknote is worth under $3, and ice cream prices doubled in a month. The country, where 40% of the population lives in poverty, is headed for its sixth recession in 10 years. Milei supporters see his policy ideas as extreme but hope they would provide a necessary jolt to a broken system.

Here are some of the drastic actions Milei said he’d pursue if elected:

* Dollarization, or the process of switching the national currency from pesos to the US dollar. Of note: The Argentine government tried a similar policy in the ’90s, and it ended in disaster, but dollarization has seen some success in Ecuador and El Salvador.

* Eliminating Argentina’s central bank, which he believes is the “worst garbage that exists on this Earth.”

* Cutting government spending by shutting down public programs like the health, environment, and education ministries and making citizens pay for the public healthcare system.

Bottom line is Milei outperformed mainstream candidates in the primary, but the race is far from over. The presidential election is on October 22, and many experts predict a runoff election will need to be held on November 19...

Comments

He might save Argentina

[xobbit]

100+ years of socialism have failed enough, though dollarisation is a bit radical for huge country, why don't they join some economical union with the USA instead? Wonder is he planning something like liberalisation "shock therapy"?

Re: He might save Argentina

[paserbyp]

Good question about economical union with USA, but in Argentina lot of people don’t want to see cooperation with USA for some reasons. Moreover, I can predict easily huge protests on street against “shock therapy” and as a result will be an army takeover…