What it takes to elect a libertarian
Brady Leonard
Video Embed
Right-wing libertarian Javier Milei, an author and economist in the Austrian tradition, has won the Argentinian presidency, defeating Economic Minister Sergio Massa.
“Today, the impoverishing model of the omnipresent state ends, which only benefits some while the majority of Argentines suffer,” Milei told supporters Sunday. “Today, the idea that the state resources are loot to be shared between politicians and their friends ends.”
Argentinians have suffered under the heavy hand of socialist Peronist presidents for decades, and now Milei has the chance to set the nation on a course toward individual liberty and sound money. Whether he can do it is anyone’s guess, and we should feel optimism for the future of the Argentine people. But the circumstances that created the political landscape that allowed a man such as Milei to win in a relative landslide leave me less optimistic over the prospects of America’s elections, at least in the short term.
Argentina was once the world’s sixth-richest country, but the economic destruction of leftist policies has caused that ranking to fall to 66th. More than 40% of Argentines live in poverty, up 4 percentage points from last year. The peso is in free fall, spurring Milei’s call to dollarize Argentina’s economy, and the inflation rate sits at a crushing 143%. Even South Americans, as historically susceptible to socialist propaganda as they have been in years past, are ready for a change after feeling the impacts of previous authoritarian regimes.
The last libertarian with a realistic chance at winning the U.S. presidency was former congressman Dr. Ron Paul (R-TX), who ran in 2008 amid a major recession and housing crisis and the disastrous, aimless war in Iraq. Paul finished a distant second to eventual GOP nominee Sen. John McCain (R-AZ), who campaigned as the embodiment of more-of-the-same. Paul’s 2012 run ended similarly, and his son Sen. Rand Paul’s (R-KY) 2016 presidential bid ended before the Iowa caucuses.
In hindsight, unnecessary, bloody, and costly wars, a major recession, banker bailouts, government spying, and inflationary spending probably should have spurred voters in a more libertarian direction, but they chose to stay the course. The United States is experiencing relatively high inflation rates at the moment (peaking at over 8% in 2022), the national debt is nearing $34 trillion, and deficits are increasing with every new omnibus spending bill.
U.S. voters, however, are set to elect one of the two men responsible for the present state of the country’s economy. Barring the death of one or both of the elderly front-runners or something unforeseen occurring in the primaries, President Joe Biden or former President Donald Trump will be sworn in next year. No matter that they are two of the most economically illiterate leaders in U.S. history who are at least partially responsible for both the current inflation levels and a large percentage of the debt.
Eight percent and 140% inflation are two different animals, and as much as right-wingers like to accuse Democrats of being socialists, even the worst Democrats aren’t at the level of many of the South American dictators. Despite food, energy, and other essentials being hit especially hard by inflation, Americans are clearly not uncomfortable enough to change their voting habits. Hopefully Javier Milei can turn Argentina around and give the Western world an example of effective libertarian governance. And hopefully, Americans will learn that lesson from afar instead of waiting for our great nation to become Argentina before assessing our options and making wiser decisions at the ballot box.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Brady Leonard (@bradyleonard) is a musician, political strategist, and host of The No Gimmicks Podcast.