economy
Argentina's Free-Market Comeback Is Good for America
When Argentina’s anarcho-capitalist, chainsaw-wielding President Javier Milei took office in late 2023, much of the mainstream commentary, and even many economists, predicted chaos. A hard-line libertarian, well-schooled in Austrian economics, pledged to slash spending, devalue the currency, and dismantle large swaths of the Argentinian state. Even free market economists were skeptical that the student of Mises and Hayek would be able to beat back decades of decline under Peronist rule, or that Argentine voters would tolerate Milei’s “shock therapy.”
TL;DR
- President Javier Milei implemented 'chainsaw austerity' upon taking office in late 2023, cutting public works, subsidies, and government jobs.
- Monthly inflation has dropped to single digits, and annual inflation is at 31%, the lowest in eight years.
- GDP growth was 4.4% in 2025, a significant improvement from 2023.
- Argentina posted its first budget surplus in over a decade in 2024.
- Milei's administration has rejected BRICS membership and aligned Argentina with the U.S.
- The article suggests Milei's success could serve as a model for economic reform in the Western Hemisphere.