I wrote yesterday about the Hayek Socialism Index, which showed Hong Kong getting the best score, followed by Liechtenstein and Monaco (with North Korea getting the worst score).

Today, let’s focus specifically on Argentina since the Index gives us another opportunity to quantify the impact of what is being called “the Milei Miracle.”

The authors have a special section that summarizes Argentina’s improvement. Most notably, Argentina has jumped from #83 to #62.

There is also speculation about how much further improvement might occur.

Javier Milei’s goal is for Argentina to have the world’s freest economy.

Given the horrible statism that plagued the country when he took office, that’s probably a bit of a fantasy.

But I’ve remarked in speeches that climbing into the top 50 is realistic. And the authors of the Index agree – assuming Milei’s reforms continue.

Here’s one more visual for today’s column.

The Hayek Socialism Index has a section on special cases that begins with a look at German economic history (the post-war miracle, the wretched performance of East Germany, and the collectivism of the National Socialists).

But Argentina also is featured, both as a bad example (policy before Milei) and a good example (policy under Milei).

North Korea is also a special case, but in a very bad way.

I’ll close with my two cents on why Argentina is a special case. Simply stated, we need a modern role model of a good leader. Milei is the new Reagan and new Thatcher.