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 most important 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 buck will likely be authorized tender, and the peso will likely be headed for the scrap heap of historical past.
This phase of What’s Ahead explores the large and profoundly constructive significance of this transfer for Argentina and, certainly, the world. It additionally demolishes the most important argument towards dollarization.