What is the historical significance of his victory? Are you optimistic?

Doug Casey: Milei's election is a big deal—potentially a very, very big deal. He's the first declared anarcho-capitalist in history to head any country. And not by stealth. He, all the while, said that the State is the enemy and should be abolished. Anarcho-capitalists believe that society can run itself without a State, which is a formalized instrument of coercion.

It's unprecedented for somebody to be elected to run a State that he wants to abolish. And propose that if it continues to exist, it should only have the police, military, and the courts. And even those should be privatized.

Am I optimistic?

Looking at it from a long-term point of view, for the last hundred years, individual freedom has been diminishing, and State power has grown hugely all over the world. What's worse is that the trend is accelerating. Many countries are on the ragged edge of turning into socialist or fascist dictatorships.

That includes the US. Since Reagan left office, all of our presidents have been disasters of various types, with the current regime being the worst yet. In Argentina, the Peronists have run the country completely into the ground over the last 75 years.

Of course, maybe Milei's election is just an uptick in a continuing downtrend because you can't change a country's national philosophy overnight. But destroying a State apparatus infested by Peronists, socialists, fascists, and other horrible parasites is a good start. If he can pull the apparatus of the State out by its roots, not just trim it back, the result might last for quite a while.

I'm encouraged by the fact that young people and poor people are among his biggest supporters. They recognize that they're the ones who the State damages the most. Could Argentina be the start of a worldwide trend towards free minds and free markets?