International Man: Anarcho-capitalist Javier Milei recently won Argentina's presidential primary. He is now the undisputed front-runner in the upcoming elections.

The outcome took many by surprise. Milei is an outsider who bested the country's two entrenched establishment parties.

How did this happen, and why should anyone outside of Argentina care?

Doug Casey: It could be the most dramatic thing that's happened politically since at least World War II. Anywhere. Why? Because he's an AnCap libertarian who'd like to abolish the State—or come as close as possible. If he's elected in October, he'll make every move possible to eliminate—not just reduce—as many government departments as possible as quickly as possible. And most people seem oblivious to it.

Milei was in first place in the primary. Historically, in Argentina, the person who wins the primary wins the general election. There's only been one exception to that rule. Even more encouraging is his ratings have gone up from 30% to 40% since the primary. It appears his campaign is not just a flash in the pan but a trend that's building momentum.

Argentina was one of the most prosperous countries in the world a hundred years ago when it was about as free as any country economically. Before Peron, the Argentine GDP equaled the rest of the continent put together. But since the accession of Juan Peron in 1946, it's consistently gone downhill every year.

Why might that be?