#453 – Javier Milei: President of Argentina – Freedom, Economics, and Corruption
Lex Fridman Podcast
Key Insights
Why did you choose to campaign with a chainsaw?
The chainsaw symbolized my promise to slash the corrupt bureaucracy of the state and reduce government intervention in the economy.
Why do you despise the state and violence?
I despise the state and violence because they infringe on individual freedoms and property rights, which are fundamental to a free society.
What were the initial economic challenges you faced when you took office?
Inflation was rising at 1% per day, reaching 3,700% annually, and the fiscal deficit was 15% of GDP, financed through money printing and central bank liabilities.
What were the first steps you took to address these economic challenges?
I reduced the number of ministries, laid off civil employees, stopped public works, eliminated directional transfers to provinces, and restored utility rates to market levels.
How did you achieve fiscal balance so quickly?
By implementing deep spending cuts and transferring debt from the central bank to the treasury, we achieved fiscal balance within the first month of administration.
What impact did your policies have on inflation?
Inflation was brought down from an annual rate of 17,000% to around 28%, with true monetary inflation at 0.2% per month.
How did you address poverty and unemployment?
By making prices transparent and allowing products to reappear in the market, we revealed true poverty levels and began a class recovery, with real wages growing above inflation.
What role does faith play in your life?
Faith is a fundamental element that provides a strong background to face adversities and guides my actions based on the teachings of Judaism and the Torah.
What advice would you give to young people who want to make a difference?
Define what makes you happy and live consistently by that. Never give up and always strive to do what you believe needs to be done, even if it means failing.
What gives you hope for the future of Argentina and humanity?
The increasing awareness of the importance of freedom due to social media and technological advancements gives me hope for a better, more prosperous world.
Chapters
- Milei's understanding of economic freedom began in 2013-2014 as an economic growth specialist.
- He was influenced by reading works of Austrian economists like Murray Rothbard and Ludwig von Mises.
- He shifted from traditional economic views to embrace anarcho-capitalism, advocating for minimal state intervention.
Shownotes Transcript
