loosened rules<\/a> limiting where airlines can fly.<\/p>\n“Now [some] air fares are cheaper than bus fares!” says Di Martino.<\/p>\n
He scrapped laws that say, “Buy in Argentina.” I point out that America has “Buy America” rules.<\/p>\n
“It only makes poor people poorer because it increases costs!” Di Martino replies, “Why shouldn’t Argentinians be able to buy Brazilian pencils or Chilean grapes?”<\/p>\n
“To support Argentina,” I push back.<\/p>\n
“Guess what?” Says Di Martino, “Not every country is able to produce everything at the lowest cost. Imagine if you had to produce bananas in America.”<\/p>\n
Argentina’s leftist governments tried to control pretty much everything.<\/p>\n
“The regulations were such that everything not explicitly legal was illegal,” laughs Di Martino. “Now…everything not illegal is legal.”<\/p>\n
One government agency Milei demoted was a “Department for Women, Gender and Diversity.” DiMartino says that reminds him of Venezuela’s Vice Ministry for Supreme Social Happiness. “These agencies exist just so government officials can hire their cronies.”<\/p>\n
Cutting government jobs and subsidies for interest groups is risky for vote-seeking politicians. There are often riots in countries when politicians cut subsidies. Sometimes politicians get voted out. Or jailed.<\/p>\n
“What’s incredible about Milei,” notes Di Martino, “is that he was able to win on the promise<\/em> of cutting subsidies.”<\/p>\nThat is<\/em> remarkable. Why would Argentinians vote for cuts?<\/p>\n“Argentinians are fed up with the status quo,” replies Di Martino.<\/p>\n
Milei is an economist. He named his dogs after Milton Friedman, Murray Rothbard, and Robert Lucas, all libertarian economists.<\/p>\n
I point out that most Americans don’t know who those men were.<\/p>\n
“The fact that he’s naming his dogs after these famous economists,” replies Di Martino, “shows that he’s really a nerd. It’s a good thing to have an economics nerd president of a country.”<\/p>\n
“What can Americans learn from Argentina”<\/p>\n
“Keep America prosperous. So we never are in the spot of Argentina in the first place. That requires free markets.”<\/p>\n
Yes.<\/p>\n
Actually, free markets plus rule of law. When people have those things, prosperity happens.<\/p>\n
It’s good that once again, a country may try it.<\/p>\n
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