As Argentina’s libertarian President Javier Milei marks one year in office, his ambitious efforts to revive the country’s economy remain a work in progress. However, his policies are making waves beyond Argentina, notably influencing political and economic conversations in the United States.
Milei rose to power with a promise to slash government spending in a country plagued by years of economic mismanagement. While his austerity measures have been controversial and poverty rates continue to climb, recent polling by CB Consultora shows that Milei still enjoys the support of just over half of Argentines.
This approval rating mirrors that of Donald Trump, who secured nearly half of the US vote in last month’s presidential election. Trump has openly praised Milei, calling him a leader who can “make Argentina great again.” Tech billionaire Elon Musk, poised to play a prominent role in Trump’s incoming administration, has also lauded Milei’s leadership, describing Argentina as undergoing a “massive improvement” under his guidance.
A Shared Vision?
What do Trump and Musk admire about Milei? Are their ideologies truly aligned?
Milei’s most celebrated achievement so far has been his ability to significantly reduce inflation, a feat that resonates deeply with Argentines. However, in the US, it’s his aggressive push for deregulation that has captured the imagination of advocates for smaller government. Many in Washington see Milei’s economic model as a blueprint for shrinking the size of the federal government.
Upon taking office, Milei introduced sweeping changes: cutting state fuel subsidies, slashing the number of government ministries by half, and proposing the sale of numerous state-owned enterprises, including the national airline, Aerolíneas Argentinas. These measures have been championed by Elon Musk, who has been tasked with leading the so-called Department of Government Efficiency—a think tank advising the incoming US administration on cost-cutting reforms.
Musk’s Milei-Inspired Vision
Musk, along with co-leader Vivek Ramaswamy, aims to implement similar reforms in the US. Their agenda includes reducing federal regulations, executing large-scale layoffs, and even shutting down some government agencies. Musk has proposed cutting $2 trillion—roughly a third of the federal budget—in government spending.
Praising Milei’s leadership, Musk stated that Argentina’s president is “doing an incredible job” by dismantling entire government departments, a strategy Musk hopes to replicate in the US with Trump’s support.
As Milei’s policies continue to attract global attention, his influence on leaders like Trump and Musk signals the growing interconnectedness of political and economic strategies in an era of shared populist goals.
