President Milei praises capitalism, attacks socialism and warns Western leaders in a fiery speech at the World Economic Forum in Davos.
In his first appearance on the global stage, President Javier Milei delivered a fiery speech at the World Economic Forum in Davos on Wednesday, in which he championed capitalism, denounced socialism and urged Western leaders to change course.
The Argentine president, known for his outspoken views, launched a remarkable attack on “socialism” and a vigorous defence of free-market economics, telling the world’s political and business elite that they had to recognise their mistakes.
“The West is facing a grave threat,” said the 53-year-old libertarian in a speech that echoed his rhetoric from last year’s election campaign.
“The threat comes from those who are supposed to uphold the values of the West, but have been seduced by a worldview that inevitably leads to socialism and, therefore, to misery.”
The president accused Western leaders of having “forsaken their model of freedom,” and argued that governments had been infiltrated by “forms of collectivism,” linking these alleged beliefs to excessive state intervention, feminism and the pursuit of social justice.
“Socialism is, always and everywhere, a disastrous phenomenon that has failed in every country where it has been implemented,” Milei asserted. “It has been a failure economically, socially, culturally, and it has also killed over a hundred million people.”
The leader of La Libertad Avanza concluded his speech by commending business leaders as “heroes” who should not be intimidated by the “political caste” and “the leeches that live off the state” – some of his favourite expressions.
“Do not give in to a political class that only seeks to retain power and enjoy its privileges. You are social benefactors, you are heroes,” said Milei. “Do not let anyone tell you that your ambition is immoral. If you make money, it is because you provide a better product at a better price… Do not give in to the encroachment of the state.”
“You are the true protagonists in this story. You should know that from now on, you can rely on Argentina as a loyal ally,” Milei added.
“The state is not the solution. The state is the problem,” he proclaimed, ending his speech with his usual slogan: “Viva la libertad, carajo!” (“Long live freedom, damn it!”).
Milei had begun his speech by showing long-term macroeconomic data that he said demonstrated how capitalism had lifted millions out of poverty. Expounding on one of his favourite topics, Milei called on governments to remove state intervention from markets.”
“States do not need to directly control the means of production and regulate every aspect of the lives of individuals,” he stated.
“With tools – such as printing money, debt, subsidies, controlling interest rates, price controls, and regulations to fix the so-called ‘market failures,’ they can manipulate the lives and destinies of millions of individuals,” the president argued, citing Argentina’s economic crisis as evidence of his theory.
“Free-trade capitalism, as an economic system, is not the source of our problems, but the only tool we have to eradicate hunger, poverty, and extreme poverty across our planet,” declared the president.
Promoting free-market capitalism as the only answer to poverty and deprivation, Milei targeted “radical feminism,” abortion and “social justice,” which he said had ignited social conflicts that pave the way for socialism.
“Libertarianism already guarantees equality of the sexes. The foundation of our creed says that all humans are created equal, that we all have the same unalienable rights granted by the creator, including life, freedom and ownership.
“All that this radical feminism agenda has achieved is greater state intervention to obstruct the economic process, creating jobs for bureaucrats, who have not added anything to society,” said Milei.
“Sadly, these damaging notions have become deeply entrenched in our society. Neo-Marxists have succeeded in hijacking the rationality of the Western world, and they have done this by taking over the media, culture, universities, and also, international organisations.”
