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New York Sun: A radical libertarian triumphs in a country whose name means money

Section: Daily Dispatches

From the New York Sun
Monday, November 20, 2023

What a moment for the country whose name means money. 

The victory in the Argentina presidential elections of the radical free-market libertarian Javier Milei certainly puts a spanner into whatever gears are turning Latin America to the left. The leftist economic minister, Sergio Massa, a Perónist, conceded defeat in the runoff even before the official account was released -- opening the way for the populist Javier Milei.

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The Sun rarely, if ever, endorses in foreign elections, but we don't mind saying our interest in this election has been keen. Mr. Milei used his penchant for theatricality to signal that he was leading a broad backlash against political correctness. He's a pro-life professor of economics who sometimes carries an Israeli flag and says he'll move Argentina's Israel embassy to Jerusalem. To show his budget plans, he has carried a revving chainsaw.

All of this is of interest to us but none of it more than the fact that Mr. Milei is a follower of Austrian economics, which centers on defining money in terms of gold. 

That is currently outlawed under the amendments of the International Monetary Fund passed in 1978. The logic of Austrian economics, though, has been moving to the fore of the debate on how to correct an economy that has saddled America with crushing debts. ...

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