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Socialism ‘condemns people to poverty’: Argentina’s Milei warns Western world at WEF

by SuperiorInvest

Argentine President Javier Milei believes that a turn towards collectivism in the Western world will inevitably lead to socialism and risks “condemning people to poverty.”

The newly elected Argentine economist gave a moving speech at the World Economic Forum, stating that the “Western world” faces a significant threat driven by a turn towards collectivist policies in recent decades.

“It is in danger because those who are supposed to defend the values ​​of the Western world are co-opted by a worldview that inevitably leads to socialism and, consequently, poverty and economic deprivation,” Milei said.

The speech was widely shared on social media platforms, and one X user posted a translated version of Milei’s speech generated by AI video tool HeyGen, which mimicked the president’s accent.

Milei, who assumed the presidency of Argentina in December 2023, highlighted his own country’s difficult economic situation over the last century as a direct result of the adoption of collectivist ideologies:

“When we embraced collectivism over the last 100 years, we saw how our citizens began to systematically become poorer until they fell to 140th place in the world.”

The economist went on to defend free market capitalism as a solution to driving economic prosperity around the world, saying that capitalism has brought the modern world to its most prosperous point in history.

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“Today’s world is freer, richer, more peaceful and more prosperous than ever. This is true for everyone, but particularly for those countries that are free and respect economic freedom and individual property rights,” Milei said.

The Argentine president said that “free countries” are on average 12 times richer than repressed ones. These nations also have 25 times fewer poor people in the standard format and 50 times fewer in the extreme format.

Milei highlighted libertarian ideals as the basis of free market capitalism, citing Argentine professor Alberto Benegas Lynch’s definition of libertarianism, which is based on the fundamental rights to life, liberty and property.

The ideology advocates private property, free markets without state intervention, free competition, division of labor and social cooperation, “where one can only be successful by serving others with better quality goods at a better price.”

“The capitalist, the successful businessman, is a social benefactor who contributes to the well-being of society as a whole. In short, a successful entrepreneur is a hero.”

Milei also said that more and more world leaders are beginning to speak out against changing socioeconomic ideologies, organizations and institutions that systematically oppress individual freedoms.

“Fortunately, there are more of us who dare to raise our voices when we see that if we do not face these ideas head-on, the only possible destiny is more State, more regulation, more socialism, more poverty, less freedom and, consequently, a worse quality of life,” stated the Argentine president.

Related: Who is Javier Milei, the market-friendly Argentine president?

Milei admitted that while many social commentators would object to the premise that “the West has embraced socialism,” he believes that contemporary government structures do not need to control production to control the lives of citizens:

“With tools such as monetary issuance, debt subsidies, interest rate controls, price controls and regulations to correct alleged market failures, they can control the destinies of millions of human beings.”

Milei reiterated that policies that hinder the free functioning of markets, free competition, free pricing systems and attack private property have “the only possible destiny is poverty.”

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