Javier Milei, the outsider Argentines embraced as their president in 2023 after years of socioeconomic crisis, famously campaigned with a chainsaw that he vowed he’d use to cut the government down to size. His antics attracted international attention—inspiring copycat chainsaw-brandishing by Donald Trump-supporter Elon Musk. But Milei’s actions in office have gained notice, too. With libertarian zeal, he has indeed slashed public spending, carrying out what he calls “the biggest adjustment in the history of humanity.” Since donning the presidential sash in December 2023, his government has cut public spending by 30% in real terms. Inflation has dropped from 15% a month at the outset of his term to 2-3% today, but Argentines remain as or more hard-pressed, poverty is widespread and the country has had to take on a $20 billion emergency loan from the International Monetary Fund. Meanwhile, the government continues to restrict public... [Log in to read more]