Written by Anthony Constantini

What’s happening: Argentina’s upcoming presidential election is between two candidates: Sergio Massa, the economy minister and standard center-leftist, and Javier Milei, a right-winger running on an anti-establishment political platform.

  • The backdrop? Argentina is in crisis mode, dealing with a nearly 140 percent inflation rate, crime concerns, and a government suffering in the polls.

Not just image: His platform is a rare mix of hardcore libertarian economics and strong social conservatism, and he is seeking to make radical changes in Argentina:

  • An anti-bank warrior: Milei seeks the elimination of Argentina’s central bank, which he blames for the country’s inflation rate. This is an extremely bold position; even American libertarians like Rand Paul often push only for an audit of the U.S. Federal Reserve.

  • Dollarization: In an era where some countries, like the BRICS, are looking for an alternative to the dollar, Milei wishes to make it Argentina’s official currency. In the past five years, the Argentinian Peso has gone down 858 percent in value against the dollar).

  • Social conservatism: Milei opposed Argentina’s legalization of abortion in 2020. Arguing life begins at conception, he has sworn to try to re-ban it as president.

Why it matters: Major events in one country have a way of bouncing across the globe. It is not a coincidence that former President Donald Trump was elected the same year the Brexit nationalist movement occurred. If Milei’s run is successful in a runoff election next month, he could make ripples in a South America that has recently moved left.

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