Title: Javier Milei's 'Have It All' Moment: How Long Will Argentina's Libertarian Experiment Endure?
The charismatic Javier Milei has sent shockwaves through Argentina and beyond, cementing himself as a trailblazer of the global "new right" movement. Comparisons draw parallels between Milei's political climb and Cristina Fernández de Kirchner's ascension, offering a glimpse into Argentina's political landscape and revealing valuable lessons gleaned from Kirchnerism's rise and fall.
Milei, now a global leader in the "ideas of freedom," shares the limelight with United States President-elect Donald Trump. This political outsider, identifying as an "anarcho-capitalist" libertarian, is ushering an era marked by his sister Karina's leadership as Chief-of-Staff and their shared vision of a socio-cultural hegemony.
Something akin to "we want it all" (Vamos por todo) was the rallying cry escorted by Cristina Fernández de Kirchner as she assumed the presidency for a second term. Delivering a comeback story after the implosion of Macri's administration, her administration, however, failed to engineer its own "we want it all" moment.
Kirchner's quest for total dominance
To enjoy total political hegemony, Cristina's team set their sights on the "Chinese rates" of economic growth – near 10% annually. However, their power-grabbing antics eventually brought about their downfall. Falsified inflation figures, conflicts with agriculture sectors, media blockades, and numerous corruption cases only accelerated their decline.
The 2008 subprime crisis and the 2010 EU debt crisis exposed Kirchnerism's inability to adapt to the new global paradigm. Crippling currency controls, foreign debt defaults, and expropriations of national energy companies triggered international isolation.
Cristina's defeat in the 2015 elections marked the end of the Kirchnerite domain. Yet, her political influence remains, making her a formidable adversary for Milei, whom Cristina fiercely critiques.
Macri's dream deferred
Although Macri experienced a "we want it all" moment in 2017, his approval ratings are now low. Key defectors like Patricia Bullrich have decamped to Milei's camp, further eroding Macri's influence. Clubhouse heavyweight Horacio Rodríguez Larreta faltered during the 2023 primaries, leaving his prospects uncertain.
Even as Milei's experiment is still in its infancy, the ambitious duo sees the "Milei era" playing out for at least eight years, centering on their control of the Casa Rosada, Buenos Aires City, and Buenos Aires Province. Adept economic policies could perpetuate their popularity, allowing Milei to engage in a global culture war.
Yet, this vision remains incomplete.
Milei's financial backing largely comes from private markets, further amplifying his impact in the political sphere. The economic policies implemented during Kirchner's tenure, marked by currency controls and expropriations, led to a strained relation with international financial markets.
The economic turbulence under Kirchner's government also limited Argentina's access to loans from these markets, contributing to her administration's financial woes.
