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Saifedean Ammous, “Javier Milei’s Austrian Scam By the Numbers”

Saifedean Ammous, “Javier Milei’s Austrian Scam By the Numbers,” Property and Freedom Journal (May 18, 2026)

As a libertarian anarchist and Austrian school economist, I was interested in following the election of the first president in the world who professed to share my ideas. He said a lot of the right things on TV, and his radical policies seemed similar to what I would want implemented. After 30 months of close observation, I can confidently say Javier Milei’s policies bear no resemblance to what an Austrian economist would do, and he has used Austrian economics as a cover to run one of the most inflationary presidencies in Argentina’s highly inflationary history. Predictably, and in light of the most recent inflation and growth data, it is now safe to call Milei’s presidency a failure on all the important questions. Ignoring inconsequential rhetoric, Milei has been just another Latin American inflationist demagogue, selling his citizens pipe-dreams financed through inflation and debt that will burden and impoverish them for generations. In the 30th month of his presidency, when the seed of economic recovery planted early in the term should be bearing fruit, prices continue to rise, economic activity is declining, and the unsustainable government debt ponzi is larger than ever, suggesting much more pain to come.

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