DArgentina’s new president is sympathetic to Trump and Bolsonaro, but his electoral success is a special case in the right-wing populist wave that has gripped so many Western societies. He offers typical culture war themes, such as banning abortion or liberalizing gun ownership.
Libertarian Treatment for Shrinkage
But migration, a major problem in the United States and Europe, plays only a minor role in Argentina, a traditional country of immigration. The rise of Javier Miley and his electoral victory are primarily a consequence of the catastrophic economic situation.
On Sunday, Argentines had a choice between a candidate from the largely corrupt Peronists who have devastated the resource-rich country and a radical newcomer who offered them a libertarian, restraining message. With inflation soaring, a large portion of the middle class was eventually willing to take risks.
But it will be difficult for him to keep his promises, and not only because of conditions in Congress. The most important thing for him is dollarization, which will not be easy in a country with low foreign exchange reserves. Shaving the state apparatus with a chainsaw is also a difficult task, since a large underclass depends on subsidies. Argentina elected an “anarcho-capitalist”; in fact, it needs a reformer.
Source: Frantfurter Allgemeine
