Because he has absolutely nothing to lose by promising idiotic stuff.
I mean here we're at the level of that jackass Trump put in charge of the Energy dept who had said "we have to close this department" until he actually understood what it was.
The idea of dollarizing the Argentinian economy may be feasible, or not, good or bad, it's not the point. He's flouting it because he's an irresponsible jackass.
His proposal is directly based on the book "Dolarización: Una Solución para la Argentina" (Dolarization: A solution for Argentina) [1] by Nicolas Cachanosky and Emilio Ocampo, two great economists. You may not be on board with Ocampo and Cachanosky's idea but saying that Milei is only advocating for this because he's a "jackass" is pretty stupid. There is theory behind this.
Unless we are at the point where we concede that hard-left is, by nature, totalitarian: which would be a welcome fresh breath of hair to the political discourse. The therm "hard-right libertarian" is nonsensical.
Shouldn't a libertarian just leave the choice of currency selection up to individuals (willing to spend, and willing to accept)? Forcing the use of a specific currency on people seemingly violates the NAP.
I'm curious because this is seemingly opposite to how I envisioned libertarians to act.
He advocates for free competition of currencies, but argentinians will choose the US dollar because people here already save on USD and were already saving on it for decades.
Dollarization doesn't seem to be any worse or better than keeping control of your own currency.
There are issues, but they're probably outweighed by the benefits of not having your currency under political control.
In general, though, countries that have undergone unofficial dollarization are worse off because it shows that nobody trusts the local currency. That trust is what makes currency work, so unofficial dollarization is most likely more a symptom than a cause.
> There are issues, but they're probably outweighed by the benefits of not having your currency under political control.
But with the downside of having your currency under control of the Federal Reserve, which makes decisions based on conditions in the US, not Argentina.
The thing you have to understand is that any central bank in the developed world is 10 times better than any version of the argentinian central bank of the last 50 years.
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[ 4.1 ms ] story [ 31.0 ms ] threadI mean here we're at the level of that jackass Trump put in charge of the Energy dept who had said "we have to close this department" until he actually understood what it was.
The idea of dollarizing the Argentinian economy may be feasible, or not, good or bad, it's not the point. He's flouting it because he's an irresponsible jackass.
[1]: https://dolarizacionunasolucionparaargentina.com/
Libertarianism is about personal freedom. That goes against being defined in the Left/Right political axis: https://en.wikipedia.org/wiki/Libertarianism
I'm curious because this is seemingly opposite to how I envisioned libertarians to act.
There are issues, but they're probably outweighed by the benefits of not having your currency under political control.
In general, though, countries that have undergone unofficial dollarization are worse off because it shows that nobody trusts the local currency. That trust is what makes currency work, so unofficial dollarization is most likely more a symptom than a cause.
But with the downside of having your currency under control of the Federal Reserve, which makes decisions based on conditions in the US, not Argentina.
"How Argentina has been trapped in neocolonial debt for 200 years: An economic history"
https://geopoliticaleconomy.com/2022/12/18/argentina-neocolo...