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Who is Javier Milei, Argentina’s market-friendly president?

Press Releases Crypto News Cointelegraph Who is Javier Milei, Argentina’s market-friendly president?

Argentina welcomed a new president on Dec. 10, pledging profound economic reforms in the country, including the dissolution of the central bank along with a number of other measures aimed at reducing government size and spending.

President Javier Gerardo Milei is also known as “El Loco” (the crazy one), a nickname he earned at school due to his explosive personality. During his campaign, Milei pushed his “crazy” persona onto the stage, proposing disruptive measures to a population heavily burdened with a 161% annual inflation rate as of November.

His economic proposals are based on his decades of experience as an economist, ranging from advising politicians to working on private pension funds and banks, and as a professor of macroeconomics and microeconomics, having published several papers about economic growth.

Milei decided to become an economist at 12 when the peso’s exchange rate collapsed, sparking the country’s first debt crisis in the 1980s. According to local media reports, Milei observed people fighting over groceries due to the situation. He then delved into the law of supply and demand, which says that demand for a product declines when the price rises and increases when the price drops — a key concept to understanding inflation.

The new president describes himself as a “minarchist,” a form of libertarianism that advocates for a minimal state and free markets. But Milei had been on the other side of the economic spectrum during his initial career. In a recent interview with The Economist, Milei said he was trained as a Keynesian in college — a reference to John Maynard Keynes’ economic theories about the importance of the government in creating jobs and economic growth.

A few years later, after completing his two master’s degrees, Milei found himself more aligned with ne

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Author: Ana Paula Pereira

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