Javier Milei’s new government has kept his outrageously optimistic promises. Within days of taking office, he basically dismantled Peronism, the socialist-fascist system crippling the nation since the end of World War II.

He did it by decree: He declared an economic state of emergency lasting for two years, and by virtue of the state of emergency, stopped government control of the economy across the board. You can read it here in the original: It’s a massive, detailed document.

For example: Hyperinflation is a big problem in Argentina, because the government just printed the money needed to pay for its desires. Now, people can set contracts in any currency they want. That means instant dollarization for those who want it.

The government is stopping its micro-management of wine, grain, and meat. Now farmers will be able to buy and sell as they please, not as the bureaucrats give permission. Meat prices have already dropped.

The government owns or controls many industries, such as the oil industry, which has been forced to sell gasoline below its cost. Gas prices have already risen, and when customers were asked about the higher prices, some responded “its the price of freedom”  Privatization of nationalized industries will begin.

Because there will be economic dislocation from these massive changes, social security welfare payments have increased to soften the economic blows to the vulnerable.

For example, because of the government’s intervention in so much of the economy, many things are “Hecho en Argentina.” Many factories have had a protected market and do not compete with foreign goods. Without doubt, there will be a big negative impact to local industry. How Argentina threads this needle will be very instructive.

Whatever happens, this action is a tremendous blow to the leftist consensus ascendant in much of South America. It seems so far that President Milei has been sure-footed in his actions, and he is one of the most outrageously charismatic libertarian leaders I have ever seen. I remember well as a young man living in Argentina, pondering the atmosphere of depression there. The intuition flashed to me that the grandfathers had been much richer, and each generation was getting poorer than the one before. Finally, with Milei, the people have the hope of making Argentina great again.

Image: Vox España