AA Edit | Argentina’s Sharp Right Turn

Argentina elected an extremely vocal and staunch advocate of a libertarian-type free market advocate, Javier Milei as its new president, after which the country witnessed unprecedented celebrations akin to a country gaining independence.

Mr Milei, who strongly believes in a very limited government, low taxation and little to no government intervention in business, allowing the market to decide most factors — prices, rules, policies — with little to no government welfare and abolition of income taxes et al., is almost an aberration in the world of politics because right-wing free market economics is normally considered bad politics and is unpopular.

Mr Milei, who pledged to unleash the nation’s potential and take the economy and people to great heights, has almost heralded a new political era after an unprecedented electoral win. He was benefiting from huge anti-incumbency, predominantly economic, owing to hyper-inflation in three digits, an almost unavoidable recession and historically high levels of poverty and social anguish.

His win with a poll of over 56 per cent of popular vote against his rival, Sergio Massa, who ironically was serving as the minister for economy, got the backing of over 44 per cent, and is reportedly the biggest-ever political victory margin in the history of Argentina since its independence in 1983.

Mr Milei’s political views are rare enough but his actual popular victory is an actual black swan moment in world politics. While right wing politicians of the religious, cultural mix are common and popular, they, too, incorporate a fair degree of the nearly-universal agenda of welfare politics, of tax and subsidy and a “pro-poor” political intervention, often marked with a visceral dislike for and distrust of market politics. Mr Milei has promised an embittered and battered nation that he would show them a way based on free market economics, removing government from the sphere of economics, including abolishing several ministries which are almost ubiquitous in most democracies.

Just like secularism, the separation of politics and religion, heralded an era of peace globally for a long sustained time arc, the separation of politics and economics could create unprecedented levels of prosperity and opportunity. Here is to that hope that Mr Milei succeeds and Argentina thrives, and become an example for others.