A libertarian has been elected President of Argentina

Posted by $ CBJ 1 week, 6 days ago to News
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"Javier Milei, a volatile far-right libertarian who has vowed to 'exterminate inflation and take a chainsaw to the state, has been elected president of Argentina, catapulting South America’s second largest economy into an unpredictable and potentially turbulent future."

"He pledged to dollarize the economy, shut down the central bank and cut the number of government ministries from 18 to eight. His rallying campaign cry was a takedown of the country’s political 'caste' — an Argentine version of Trump’s 'drain the swamp.'”
SOURCE URL: https://www.theguardian.com/world/2023/nov/20/argentina-presidential-election-far-right-libertarian-javier-milei-wins-after-rival-concedes

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  • Posted by $ 1 week, 6 days ago
    Last year Javier Milei tweeted a quote from Ayn Rand:


    Individual rights are not subject to a public vote; a majority has no right to reject the rights of a minority. The political function is to protect minorities from the oppression of majorities (and the smallest minority on earth is the individual).
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  • Posted by nonconformist 1 week, 4 days ago
    I can't believe this was allowed to happen. I guess the predatory class over there got really sloppy.

    This news is excellent. However, I will remain skeptical. I would take issue with some of the stuff he is planning to do.

    His plan to dollarize the economy isn't necessarily going to solve the theft by inflation problem. It is just going to move it outside his control. What he should do instead is put in laws/constitutional protections against dilution of the money supply, or something to that effect. Supposedly, there is a lot of silver in Argentina. Why couldn't he just revalue their currency in silver and require any new currency going forward to be backed by allocated silver bars somewhere in a vault? It seems like that would be a better solution than dollarization.
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    • Posted by $ 1 week, 4 days ago
      Argentine inflation is officially 147% per year, and in reality probably higher. Dollarization is not an ideal alternative, but it would be a big improvement. In a truly free market, there would be no central banks and no official currency.
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      • Posted by nonconformist 1 week, 3 days ago
        You are right. The true anarcho-capitalist view is probably that money should be private. The even better option for Argentina would be letting the free market decide what is used as money.
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        • Posted by $ 1 week, 3 days ago
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          • Posted by nonconformist 1 week, 1 day ago
            On one hand, argentinians already selected the dollar as the currency that they want to use, so, doing dollarization is just going along with the free market.

            On the other hand, the reason why they did that is because Argentine peso has been mismanaged to oblivion. So, if Milei was to undo the mismanagement and make it even better than the dollar, argentinians may switch back.

            I wasn't suggesting forcing any currency on anybody. Free market allows any organization to provide a 'currency product', including a 'government entity'. I don't see an issue as long as everything is voluntary.
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  • Posted by $ blarman 1 week, 5 days ago
    Of all the nations on the earth, Argentina has a strong claim for the most meddled-with economy by virtue of the IMF.

    I think it's also interesting to note the voting by "precinct": it was the large population centers which voted for the leftist candidate ('cause you can bet he wasn't "center-left" like the article tried to paint him). Sound familiar?
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  • Posted by $ 1 week, 6 days ago
    "Powell praises Milei for his three-part policy plan: First, fiscal, labor, trade, and monetary reforms — reduction of public spending, flexible employment contracts, unilateral free trade, dollarization and full-reserve banking; second, pension and welfare reforms — privatization of public employees’ pensions to encourage private-sector employment; third, health-care and education reforms — privatization of health care and establishment of a school-voucher system."

    It will be interesting to see how much of his economic plan Milei will be able to implement. Exciting times ahead in Argentina!
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    • Posted by freedomforall 1 week, 4 days ago
      If the '80's experience in NZ is any guide, he should not compromise on anything and use every tool available
      to force acceptance of a complete conversion to free market economy with hard currency and zero loans from
      the banking cartel.
      (Ultimately NZ reverted to socialism, but their economy was temporarily saved by the free market reforms.)
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  • Posted by $ Markus_Katabri 2 days ago
    This just in….Milei is just another World Economic Forum stooge for Klaus “eat ze boogs” Schwab.
    He has his very own page on their website. The Left Right paradigm is false. Two wings of the same corrupt bird coming for us.
    The only way the tyranny stops is fundamental decentralization. The answer is never more government.
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