Javier Milei, a free-market radical, channels many Argentines’ frustration with their country’s chronic economic dysfunction
music blared from the speakers as ten thousand fans cheered. A gigantic image of a roaring lion surrounded by fire lit up on screen. Jumping on stage, a man clad in a leather jacket whipped the crowd into a frenzy. “I am the lion!” he cried. “I am the king in a lost world.” It was not a rock concert. The speaker was Javier Milei, a libertarian who hopes to become Argentina’s next president, at a recent campaign rally.
is 116%, higher than anywhere else in the world except for Venezuela, Zimbabwe and Lebanon. Crushing taxes lead many businesses to operate off the books. Capital controls make it nigh impossible for Argentines to buy dollars legally, the currency they prefer to save in. This has led to a gigantic black market for greenbacks, the price of which is used as a proxy for the state of the economy. Today a black market dollar costs around 600 pesos, double what it did a year ago.
Yet Mr Milei won the night less because of his policies than because of his attacks on other politicians. Before being elected to Congress in 2021, Mr Milei worked as a consultant and economics professor. His bombastic personality has given him cult status. He claims not to have brushed his hair since he was 13 and lives with five mastiffs, four of which are named after economists. His campaign manager is his sister Karina , whom he has compared to Moses.
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