A Christmas Present for Us Libertarians
For those of us who champion the cause of libertarianism, Javier Mile's decree is not just policy – it's almost a dream turned true.
You are reading The Third Angle. The publication is mostly about crypto and economics, my areas of expertise, but could also be about many other things such as geopolitics, science, AI, and health: all areas I love as well.
The Third Angle is run by Juan Aranovich, an economist from Argentina, managing editor of Unchained, and crypto enthusiast.
Javier Milei’s first decree (DNU) as President has been a masterclass in libertarian governance. Milei's unapologetic and rapid implementation of reforms is a breath of fresh air in the stagnant atmosphere of Argentine politics.
I can’t emphasize enough the problems that we have in Argentina because of the isolationist policies taken by all previous governments in the past 20 years. My doctor friends can’t operate because there are no basic supplies in the hospital. And even basic things, such as technology, you can’t get. An iPhone costs $5,000 USD. I’m not joking.
Milei's approach breaks the mold of traditional governance. I’m not sure if it’ll be upheld, to be honest, there are those who question the constitutionality of his decree. He sidesteps the bureaucratic red tape, using a decree to enforce sweeping changes. Still, the decree is an embodiment of the popular mandate that Milei received, a mandate for drastic change.
Among the raft of reforms, the opening of the skies (cielos abiertos) is a particularly significant move. It allows new airlines to operate in Argentina, promoting competition, creating jobs, and making air travel more affordable. This is a pragmatic step towards connecting Argentina more efficiently, both internally and with the rest of the world. I was recently in one inner province of Argentina in the north. The availability of flights was almost non-existent. I had to travel to Buenos Aires to go back to another place.
Breaking monopolies in sectors like internet services is another commendable move. Allowing global players like Starlink to enter the market is set to drive down prices dramatically, ending the era of inflated costs due to limited competition. We might see the end of the Fibertel monopoly, part of the Clarin conglomerate.
This is a textbook libertarian strategy – reducing state interference to let the market drive innovation and cost-efficiency.
The privatization of Aerolíneas Argentinas, transitioning it to employee ownership, is a bold step in reducing the financial burden on the state and its taxpayers. It’s high time these relics of state control were dismantled.
Peronists have defended Aerolíneas Argentinas being owned by the state because they believe that every country should have a “flagship airline.” Meanwhile, the Argentinians, of which 50% are poor, are paying for the company’s deficit: classic collectivist thought.
The deregulation efforts extend to the pharmaceutical industry, opening it up to competition and investment, which is bound to lead to more affordable healthcare options. Similarly, the liberation of import restrictions is set to make a variety of goods, especially technology products, more accessible and affordable for the average Argentine.
Milei's labor market reforms are equally pragmatic. They strike a balance between protecting workers and easing the burden on employers, fostering an environment where job creation is not just a possibility but a likely outcome.
There are many who are crying about the “loss of rights.” To which I answer, what rights are you talking about when 60% of our children live under the line of poverty? These reforms are needed to generate jobs. Jobs in the private sector have been in the same numbers for the past 13 years.
However, these revolutionary changes haven't been universally welcomed. The "cacerolazos" protests are a testament to the resistance Milei faces. But let's be clear – these protests are more a reflection of the discomfort that comes with any major change rather than an indictment of the policies themselves. T
For libertarians, Milei’s decree is a decisive step towards the Argentina we have long envisioned – an Argentina unshackled from the chains of overbearing government control, bloated bureaucracies, and economic inefficiency.
As Milei himself has warned, the path ahead is tough. But for those of us who have longed for a truly free and prosperous Argentina, these reforms are not just necessary; they are the only way forward. The journey has just begun, and the horizon looks promising.