“Let’s return to embracing the idea of freedom.” Program and intentions of Javier Milei.
On Sunday, October 19, 2023, the final runoff took place between the anarcho-capitalist economist Javier Milei and the now former Minister of Economy Sergio Massa in the race for the presidential elections in Argentina.
After winning the primary elections on August 13 with 32.4% of the preferences, Milei secured the final victory with a clear 55.69% against Massa’s 44.31% after the scrutiny of 99.26% of the polling stations.
Milei’s figure enjoys particular popularity among the youth, who have grown up witnessing their country go through crisis after crisis over the years.
Sergio Massa, a Peronist economist and Minister of Economy in the outgoing government, tried to challenge Milei, forcing this final runoff after the first round of elections on October 22, 2023.
Milei: “Today begins the reconstruction of Argentina.”
Sergio Massa, upon learning the results of the initial vote count, admitted defeat, stating:
“It has been a long and at times difficult campaign. Today’s day confirms one thing: Argentina has a strong, solid system and always respects the results. Obviously, they are not the ones we expected. I congratulated Milei, who is the president that Argentinians have chosen for the next four years.”
El Peluca, as Javier Milei is nicknamed for his distinctive hairstyle, spoke in front of the cheering crowd:
“Today begins the reconstruction of Argentina. Today marks the end of Argentine decline. We start the reconstruction and turn the page of our history. Let’s resume the path we should never have lost. The model of the state that impoverishes and blesses only a few while the majority suffers is over. It’s a historic night; we return to embracing the idea of freedom.”
“We have enormous problems ahead: inflation, lack of employment, and poverty,’ he continued. ‘The situation is dire, and there is no room for half measures.”
Milei will assume his mandate on December 10, precisely on the fortieth anniversary of the birth of Argentine democracy from the ashes of the last military dictatorship of Leopoldo Galtieri.
After the victory, congratulations also came from Elon Musk and Michael Saylor.
The Milei Agenda
Milei’s ideas are very clear and can be summarized in a single phrase: a minimal role for the state in most processes.
The key points of his program include the closure of the central bank, the abandonment of the Argentine peso, and a reduction in public spending.
Among the key elements of his program are the privatization of state-owned companies, tax reduction, the liberalization of firearms, and the organ market.
The abandonment of the Argentine national currency is an integral part of Milei’s country dollarization plan. The adoption of the U.S. dollar would be a crucial step in getting rid of an annual inflation rate of over 140%, constituting, according to the new president, the first stage in a process of currency liberalization.
Milei has expressed his support for Bitcoin multiple times, arguing that Bitcoin is a natural reaction to the inflationary monetary policies of central banks and represents the return of currency to its original creator, the private sector.
The situation in Parliament appears to be complex for Milei and his party, La Libertad Avanza.
After the first-round vote in October, Milei garnered support for the final runoff from the center-right coalition Juntos por El Cambio, particularly from two of its prominent leaders, Mauricio Macri and Patricia Bullrich. Most likely, to govern effectively, Milei will be forced to form coalitions with minority forces.
