Here’s a ray of sunshine amidst so much economic gloom. On Sunday, Javier Milei was elected president of Argentina on a stunning free market platform, by the biggest margin since the country returned to democracy in 1983.
His most electrifying plank was replacing the peso with the U.S. dollar. That’s right: The greenback will be legal tender, and the peso will be headed for the scrap heap of history.
This segment of What’s Ahead explores the enormous and profoundly positive significance of this move for Argentina and, indeed, the world. It also demolishes the biggest argument against dollarization.