I was born and raised in Argentina. Growing up, I remember hearing from the adults around me that Argentina was in crisis politically, economically, and socially. As an adult, I realized that the “crisis” was happening partly because Argentina kept on embracing a statist politico-economic model for 100 years (chiefly led by Peronists), triggering a seemingly endless loop of catastrophe that impacted everyone’s lives.
It seemed to me for a long time that Argentina was doomed. But I was wrong: Pro free-market president Javier Milei’s election in 2023, and his landslide victory in the midterms last weekend, mark a welcome about-face in Argentina’s political and economic history — one that should inspire freedom advocates worldwide.
I left Argentina in 2017 to pursue better opportunities in America, as the life I wanted was impossible in my home country. I grew up in a country ravaged by economic chaos, criminality, and obstacles to those wanting to progress.
Every Argentinian can attest that “inflation” is a word we learn as children, and learning to deal with it is a survival skill. I saw it all the time: prices fluctuating dramatically, often from one day to the next, making it challenging for people to get by and do business. Before Milei took office in 2023, the inflation rate was 25.5% month-on-month, and 211.4% year-on year (for context, the inflation rate under President Biden, which had many Americans up in arms, averaged 4.95% year-on-year).
This inflation along with price controls, strangling regulations on producers, and other interventionist measures also meant shortages and economic stagnation for everyone.
Growing up, safety was a big issue as well. I was robbed and my house broken into more than once. Violent protests blocking streets (“piquetes”) were a daily occurrence. Criminals ran rampant in Argentina in great part because left-leaning theories made it so there were little consequences for criminals, and so they were encouraged to continue committing crimes. The rule of law was in the gutter and those violating rights were thriving at the expense of peaceful Argentinians.
Culturally, statist leaders, chiefly the Peronists, created a widespread impression on people that they couldn’t survive without government intervention and welfare, that capitalism and producers working to make a profit (e.g.: the landlords and businesspeople) were evil. The welfare state was massive and redistributed wealth created by producers to the unproductive unwilling to work.
This was all deeply ingrained in Argentinian culture. I didn’t see a way out, and I certainly never thought I’d see the day when statist Argentina would elect a free-market guy as president and back him up with overwhelming support during midterms (previously ruled by the Peronists). But both things happened, and Argentina is slowly inching closer to economic freedom.
While the situation is still dire in Argentina, many of the issues I described have markedly improved. Milei’s pro-economic freedom approach has brought inflation down to 2.1% month-on-month and 31.8% year-on-year as of September 2025. Lifting controls, like rent controls, have resulted in lower prices and more availability, far from the catastrophe previous leaders warned about. Milei is also bringing back the rule of law and empowering law enforcement — he was able to largely reduce “piquetes” and the homicide rate has started coming down.
I don’t think people originally elected Milei because they suddenly embraced free markets, but because the alternative was leading Argentina down Venezuela’s path, and the electorate reacted to that. He was the leader most drastically opposed to the status quo.
While his overwhelming victory in the midterms is still largely due to the rejection of Peronism, a new and important factor is that Milei has shown people that freedom works. After decades of being told that economic freedom would ruin them, people have experienced first-hand that that is not the case. People have seen the economy stabilize, investors eye Argentina again, and can operate in a much steadier economic environment. They’ve also welcomed Milei’s crackdown on crime.
This should serve as a lesson to the world, too. While Milei is far from a perfect freedom fighter (for example, he is an anarcho-capitalist, he opposes abortion rights, and he strongly dislikes criticism– all very concerning issues), he has shown that pro free-market ideas can be brought to even the most hostile territories and flourish. His repeated victories and success in turning Argentina around should serve as inspiration for advocates and politicians to embrace economic freedom worldwide.
Take it from me: If economic freedom can take hold in Argentina, it can take hold anywhere — it just needs to be defended and implemented correctly.
Agustina Vergara Cid is a Young Voices contributor and Southern California News Group columnist. Follow her on X: @agustinavcid