Right here’s a ray of sunshine amidst a lot financial gloom. On Sunday, Javier Milei was elected president of Argentina on a surprising free market platform, by the largest margin for the reason that nation returned to democracy in 1983.
His most electrifying plank was changing the peso with the U.S. greenback. That’s proper: The dollar will probably be authorized tender, and the peso will probably be headed for the scrap heap of historical past.
This section of What’s Forward explores the large and profoundly optimistic significance of this transfer for Argentina and, certainly, the world. It additionally demolishes the largest argument towards dollarization.
