Argentines are gearing up for one of the most uncertain presidential elections in recent history.[0] The country is facing a massive economic crisis, and the outcome of the election could have far-reaching implications for its future. At the center of this political storm is firebrand candidate Javier Milei, who has been gaining traction with his radical economic policies and promises to tackle the country's ailing economy.
Milei, a self-proclaimed “anarcho-capitalist” and libertarian economist, has been compared to controversial leaders like Donald Trump and Jair Bolsonaro.[1] He has drawn support from a frustrated population that is tired of the recurrent economic crises and unfulfilled promises of the political establishment. His campaign has resonated particularly with young voters, who believe they will have a worse life than their parents.[2]
One of Milei's key proposals is to adopt the American dollar as Argentina's currency, effectively dollarizing the economy. He argues that this move would help curb the country's rampant inflation, which reached a staggering 138 percent in September. However, critics argue that this plan is untested and could have unforeseen consequences for the country.
In addition to dollarization, Milei has also called for the abolition of Argentina's central bank and the privatization of state-run industries. He believes in limited government intervention and has pledged to slash public spending and dismantle Argentina's safety nets.[3] He has even voiced support for extreme positions such as liberalizing gun ownership and individuals' freedom to sell their organs.[3]
Milei's rise in popularity has been fueled by a combination of simple, catchy slogans and a strong social media presence.[2] His campaign rallies have drawn large crowds, with supporters chanting phrases like “the caste is afraid” and “dollarization, dollarization.” His unorthodox style and rock and roll aesthetics have made him a charismatic figure in Argentine politics.
However, Milei is not without his critics. Many argue that his economic plan is unrealistic and could exacerbate the country's problems. They point to Argentina's history of economic instability and the failure of previous neoliberal policies as evidence that Milei's proposals are not the solution.
The outcome of the election remains uncertain, but Milei currently maintains a slight lead in the polls. However, in order to win outright, a candidate must receive at least 45 percent of valid votes or 40 percent with a 10 percentage-point difference from the runner-up.[4] If no candidate meets these criteria, a runoff election will be held on November 19 between the top two contenders.[5]
Regardless of the election's outcome, it is clear that Argentina is at a critical crossroads. The country's economy is on the brink of disaster, and the next president will face the daunting task of pulling it back from the edge. Whether Milei or another candidate emerges victorious, they will need to implement bold and effective policies to address the deep-rooted issues plaguing the country. Only time will tell if Argentina can overcome its economic challenges and find a path to stability and prosperity.
0. “Argentina’s wild presidential election” GZERO Media, 19 Oct. 2023, https://www.gzeromedia.com/argentinas-wild-presidential-election
1. “Javier Milei Is The Frontrunner In Argentina's Presidential Race” TIME, 21 Oct. 2023, https://time.com/6326834/javier-milei-argentina-presidential-race-candidate-bio/
2. “Argentina to elect president amid the threat of the far-right” EL PAÍS USA, 22 Oct. 2023, https://english.elpais.com/international/2023-10-22/argentina-to-elect-president-amidst-the-menace-of-the-far-right.html
3. “Javier Milei, the right-wing reactionary who could win Argentina’s elections, explained” Vox.com, 21 Oct. 2023, https://www.vox.com/world-politics/2023/10/21/23925549/argentina-election-javier-milei-right-youth
4. “Javier Milei leads Argentina's polls ahead of Sunday election” Axios, 19 Oct. 2023, https://www.axios.com/2023/10/19/javier-milei-argentina-presidential-elections
5. “Argentina 2023 elections: 74% of the electoral roll had voted by 6 p.m.” Buenos Aires Herald, 22 Oct. 2023, https://buenosairesherald.com/politics/argentina-2023-elections-29-6-of-electoral-roll-had-voted-by-12-p-m
