The World Is Watching: Studying Javier Milei

President Javier Milei’s first major international speech was at the World Economic Forum in Davos in January. Soon after, in February, he spoke at CPAC, and this week, he arrived in the United States for the fourth time since his election. This time, he speaks at the Milken Institute’s global conference with many other luminaries, from several former presidents to Elon Musk and other business leaders. Milei continues to be in high demand as a speaker internationally, especially for groups championing free enterprise. This coming June 21, he will speak and receive the Juan de Mariana Award in Madrid, Spain, and in July, he will be in Nevada to speak at Freedom Fest, one of the most significant free-market events in the world.

Why is he attracting so much attention? An Argentine economics professor earning his living as a consultant, with almost no party, no money, and a small team of confidants, with a message that went against eight decades of economic interventionist ideology and control, winning the presidency? It is as if someone were to begin to defy the laws of gravity on live TV and social media. Is it possible? Milei has seemingly pulled off a political magic trick. If Milei fulfills his promises to close the Central Bank (making the “caste,” the entrenched bureaucracies and the interests that live from it, pay most of the cost of the reforms), liberalize the economy, and unapologetically side with the West in issues of national security, he could create a ripple effect through political-economic establishments around the globe. No wonder he is being studied.

One Milei-monitoring effort is Universidad Francisco Marroquin’s UFM Reform Watch. UFM in Guatemala is a university known for its commitment to a free economy. Reform Watch aims to study the reforms conducted by Milei’s government. It is focused mainly on economics, following currency, fiscal, labor, and macroeconomic reforms. Argentine professors have been part of UFM’s faculty almost since its foundation in 1971. Articles in UFM Reform Watch’s analysis include “Milei’s Monetary Plan and Disinflation” by Argentine economist Adrian Ravier and “The Reforms Proposed In Argentina by President Milei” by former Judge Ricardo Manuel Rojas, also from Argentina. Ravier is trained in the tradition of the Austrian School of Economics and currently directs the post-graduate program on Institutional Economics and Political Science at UCEMA, Argentina’s “University of Chicago.” Judge Rojas is a professor and prolific writer who writes in the tradition of Ayn Rand’s capitalist and individualist philosophy. UFM Reform Watch posts videos with past and present discussions by Javier Milei that are relevant to understanding his agenda. One of the videos highlights Javier Milei’s criticism of Keynesianism. Another, by Judge Ricardo Rojas, is about monetary inflation as theft. So far, all posted material is in Spanish.

In the United States, the Wilson Center has an Argentina Project that claims to be “the premier institution for policy-relevant research on politics and economics in Argentina.” Its activities include public events, briefings, conferences, publications, polling, and research. The Wilson Center is known for its scholarly work but not for its pro-free-market activism. Until recently, it included Francisco de Santibañes on its team. Santibañes was a Global Fellow at the Wilson Center and is now the head of the Argentine Council for International Relations (CARI), the leading Argentine think tank on international issues. He is well-versed in political economy and has held fellowships and internships at leading U.S. think tanks, including the Heritage Foundation and the Manhattan Institute. Although no longer officially at the Wilson Center, Santibañes should be able to provide sound advice to his former colleagues. I asked Santibañes how he explains the foreign interest in Milei: “I believe that the interest abroad is due to his role as a referent of the anti-establishment liberal/conservative right after Trump and Bolsonaro left power. I believe Milei generates a special interest in the United States as a possible Latin American ally at a time when it does not have many others in the region. His personality also helps him position himself in a particular way.”

Going beyond institutions, two individuals who follow Javier Milei closely and have an even broader reach than many institutions are Spanish economist Juan Ramón Rallo and libertarian U.S. influencer Austin Petersen. Rallo has almost 700,000 followers on YouTube, over 400,000 on X, and over 100,000 on Instagram. Rallo’s reach is impressive as his posts shun entertainment; he frames them as economic analysis, almost like an academic lesson. Rallo received his Ph.D. under Professor Jesús Huerta de Soto, the leading Austrian-inspired anarcho-capitalist economist whom Milei often lauds.

Austin Petersen, who competed in the presidential primaries of the Libertarian Party and is now the host of the Wake Up America show, is an active supporter and disseminator of Javier Milei’s ideas and government decisions. Many U.S. libertarians take issue with Milei’s aggressive war against drug mafias, principled pro-life stances, and warm embraces with former President Trump and the leading conservative politicians of today, from Jair Bolsonaro in Brazil to Santiago Abascal in Spain. Petersen, though, focuses on the main battle line, namely freedom versus socialism. He tells me, “I support Javier Milei because he is a credible and persuasive politician who supports the principles of limited government. His idealism is inspiring, but even more so is his practical politics. Libertarians have always failed on that front, and we need more freedom fighters like him who can advance our radical ideals in tactical ways.”

We are approaching five months with Javier Milei in office. Given the immense economic challenges he inherited, most supporters of Milei’s ideas and goals focus on his battle against inflation and government spending. Economics is essential, but Argentina faces significant challenges with its weak rule of law and external enemies who want to derail Milei’s alignment with Western powers. Chile, Argentina’s neighbor and, until recently, the model country for positive economic reforms, did not change course towards government interventionism due to economic factors. The analysis of this unique period in Argentine history, which can have profound effects in the Americas, needs to include serious efforts to monitor Milei’s government decisions on defense, intelligence, and judicial institutions. They go beyond social and economic policies but can play a decisive role in his success.