Pablo Pryluka in Phenomenal World:
Javier Milei’s rise to the presidency of Argentina came with all sorts of promises for economic, political and cultural repair. In one campaign speech in the run up to the October 2023 election, Milei claimed that should his party, La Libertad Avanza (Liberty Advances), come to power, “Argentina could reach living standards similar to those of Italy or France in fifteen years. If you give me twenty years,” he went on, “Germany. And if you give me thirty-five years, the United States.” When he did in fact come into office in December of that year, he did so with a bold political agenda but little congressional support; La Libertad Avanza won just 15 percent of seats in the Cámara de Diputados and 10 percent in the Senate, both of which remained dominated by Peronists on the one side and Juntos por el Cambio (Together for Change), the coalition that led Mauricio Macri to the presidency in 2015, on the other. The promises had been large but, though victorious, Milei had been granted a tight space in which to maneuver.
Milei’s popularity was premised on his reputation as a staunch market radical and his apparent position against Argentina’s political elite. In presidential debates, he warned against “the damned caste” that, he claimed, “in fifty years would turn Argentina into the biggest slum in the world.” Corrupt politicians were keeping the public hooked on state handouts so as to keep themselves elected. In turn, the system produced budgetary deficits that led to rising debt or excessive money printing, driving inflation and economic collapse.
The solution he proposed was a radical deregulation of the economy, focusing on a reduction in public spending and taxes.
More here.
Enjoying the content on 3QD? Help keep us going by donating now.