Ever since Javier Milei took office in December 2023, his government has been pursuing a radical agenda of reforms inspired by libertarian ideas, including a significant decrease in government spending (the so-called chainsaw). The outcome was an early success in addressing what had hitherto been Argentina’s main economic malaise: the monthly rate of inflation skyrocketed to 25.5% in the first month of his administration, but later progressively decreased until 1.5% in May 2025. This had led many high-profile individuals and parties around the world, including Elon Musk and several politicians of the AfD and FDP in Germany, to call for replicating Milei’s libertarian experiment elsewhere. However, a broader look at Argentina’s reality since he took office shows a markedly different picture: thousands of firms have gone bankrupt, unemployment and precarious ways of work have exploded, and wages and pensions have collapsed. Even his main achievement began to be reversed, as the inflation rate increased every month since May 2025. Moreover, Milei’s ruling by decree overstepping Congress, multiple scandals of corruption in his government, and violent police repression of journalists and demonstrators have led to a stark weakening of democratic institutions. Last but not least, Milei’s frontal attacks on ‘woke ideology’ have led to a profound worsening of the situation of women and LGBTQ+ individuals, as well as a cutting of funds and dismantling of laws related to environmental protection. Careful evaluation of the results shows that the libertarian experiment failed, and one should be careful to replicate it.

The talk is held by Nicholas Aguila, Doctoral Research Assistant at the Heisenberg-Professorship of Politics/Political Economy, Transformation and Sustainability.

The lecture is held in Englisch. Particitpation is free of charge.