Javier Millay, a libertarian economist with eccentric habits and a love for his dogs, won the presidential election in Argentina with 56% of the votes. His victory came as a result of the hyperinflation that led to an annual inflation rate of 142%. Millay has been popular among various groups in Argentina due to his criticism and attacks against the country’s leadership.
Despite his eccentricities, Millay has been praised for his ability to tap directly into the real problems troubling Argentina. He has promised to take a different approach than the previous government by closing government offices and fully shutting down the central bank as part of the “dollarization” process. However, it remains unclear how Congress will govern in practice with Millay as president.
Lev Ari believes that Argentina’s economic issues are due to its reliance on capital outside of the financial system and its role as a food producer. The country’s past attempts at stabilizing its economy have failed, resulting in an economic crisis that continues to plague it today. While Millay’s party only received 37 seats in Congress out of 257, many people hope he can provide solutions to these issues.
Prof. Rein claims that Peronism played a significant role in Argentina’s economic problems, contributing to its failure to change and develop during times of economic prosperity in Western terms. Despite this, many people see Millay as an outsider who can provide fresh ideas and solutions to the country’s longstanding problems.