The Milei Miracle, Part III

by Dan Mitchell | Nov 22, 2025

I’m still riding high after Javier Milei’s political party won a landslide in last month’s mid-term elections in Argentina.

And I’m very much hoping and expecting that gives him enough legislative support to enact big reforms next year to further liberate the Argentinian economy (tax reformfree trade, and labor market liberalization).

But let’s take a moment to appreciate what he’s already achieved.

Such as genuine spending cuts that have lowered the burden of government spending and put debt on a downward trajectory.

Such as continuing reductions in poverty.

Such as dramatic deregulation, an example of which is pictured here.

Very analogous to the difference between Swiss labor regulation and French labor regulation.

Next we have a reminder of the incredible progress against inflation.

Last but not least, here’s a look at what’s happened to jobs in Argentina.

I wrote Part II in this series in late July and Part I in early July.

P.S. There’s still no apology or retraction from Thomas Piketty, Gabriel Zucman, and the other left-wing economists who warned that electing Milei would “very harmful for the Argentine economy and the Argentine people.”