In his speech to the WEF in Davos, newly elected Argentine President, Javier Milei, warned that the “Western world is in danger”. Those people who are supposed to be defending the West have been co-opted by a vision of the world that leads to “socialism and thereby to poverty”.

Leaders have abandoned freedom for different versions of “what we call collectivism”, he said.

He referred to the experience in his own country: adopted the model of freedom in 1860; enjoyed 35 years of being a world power, then embraced collectivism and poverty, dropping to number 140th in the world.

In promoting the beauty of freedom and capitalism, Milei reminded the audience that in the year 1800, about 95% of the world's population lived in poverty. Thanks to capitalism, only 5% of the population lived in poverty by 2020. “Free trade capitalism as an economic system is the only instrument we have to end hunger, poverty and extreme poverty across our planet.”

Capitalism has lifted out of extreme poverty 90 per cent of the world’s population, and has continued to do this “faster and faster”. The world has never been richer. Countries that enjoy freedom are 12 times richer than those who do not. The lowest percentile in terms of distribution in free countries is better off than 90 per cent of the population in repressed countries. Poverty is 25 times lower and extreme poverty is 50 times lower. Citizens in free countries live 25% longer than those in repressed countries.

Countries with the virtues of capitalism and freedom are not defending those virtues and freedoms. Theoretical claptrap and greed are opening up the doors to socialism, poverty, misery, and stagnation. Socialism is a failed economic policy that has also murdered over 100 million people.

Milei uses his own country as an “empirical demonstration” that no matter how rich you may be, if measures are adopted that hinder the free functioning of markets, free competition, free price systems, if you hinder trade, if you attack ownership of private property, the only possible fate is poverty.

Surely socialism brought much pain and its absence is a relief, but why attribute that relief to capitalism?

Socialism is one type of enslavement and capitalism is another, each with its own characteristic range of suffering.

True freedom is from ALL types of enslavement!

Yuyutsu

What do you suggest?

Dear Yuyutsu,

I assume you weren't a fan of the Kibbutz system then?

Of course socialism owes a lot to significant and not so significant Jewish figures.

Argentina has embraced the largest Jewish population in South America standing at about 200,000 now.

To call Argentina socialist is really silly and only for the ill-educated and the inane. The early 1990's Argentina privatized 115 enterprises between 1990 and 1994 during a wave of capitalist acquisitions of public entities across the region, one of the highest rates on the continent. The scale and speed of what happened in Argentina drove a lot of discontent with the country recording: "As of 2003, negative views of privatization ranged from 53% in Honduras to 83% in Argentina."
http://policydialogue.org/files/publications/Estache_Privatization_in_Latin_America.pdf

They even privatised the Buenos Aires Zoological Gardens. The degree of privatisation of their economy outstrips even Australia.

However failures in privatisation, in the Argentine water sector for instance lead to the government intervening to cancel some contracts in the early 2000's, but a lot of damage had already been done. Socialist leaning political parties gain popularity because of the failures of the capitalist driven privatisations.

Now we have a new demagogue whose solution is to scour around for more things to privatise as though this will be the magic bullet.

Back to try more of the same. It really is the height of insanity.

Dear Critic and Ttbn,

«I assume you weren't a fan of the Kibbutz system then?»

There is "Kibbutz" and there is "system":

Life in a Kibbutz was very fulfilling for some,
they lived and shared everything with friends with whom they had common values and common goals.
I could have been interested myself if I had a similar group of friends with similar values and goals.
Even now, even in Australia, there are similar groups of monks/nuns who share, "From each according to his/her ability, for each according to his/her needs": they don't feel any grudge about it because they all devote their lives to serve a common purpose.
Actually, a Christian friend of mine runs a similar informal small group, here in Australia.

But when that comes to a "system", that's not my cup of tea.

«What do you suggest?»

To do away with forcing systems (including states) on people where policies and lifestyle are dictated from without rather than derived from the people's own inclinations.

For some, socialism fits like a glove, so let them exercise it freely with like-minded people.
Others are competitive by temperament, so let them form societies of like-minded people where they can work hard constantly striving to outdo each other.
And then there is also so much between and besides.

Statistically that implies smaller societies,
but these will be voluntary and happy societies.

True, smaller societies do not achieve as much materially,
a smaller society is unlikely to land people on the moon, for example:
This is fine by me, this is a cost I am more than happy to pay.

Enough was said and many books written about the evils of a socialist system (including Ayn Rand's), so I don't need to add.

But regarding capitalism, I happen to be watching the old 1960's series "Bewitched" (http://en.wikipedia.org/wiki/Bewitched).
While it is about the adventures of a witch marrying a mortal, I am not here now to discuss witchcraft, but find the series a great parody on American capitalism.

The husband's (Darrin) boss, Larry Tate, is the distinct stereotype of a capitalist pig. He runs an advertising company (itself being one of the ugliest and most predatory aspects of capitalism) and whenever and wherever he smells money and the ability to grab clients from his competitors, be it day or night (or weekend), he uninhibitedly intrudes on his employee and his wife (the witch), bursts into their house uninvited, demanding them both to turn their life around, lie, cheat and otherwise behave unconscionably so he can secure the deal.

Once you see more about the ugly face of capitalism here: http://bewitched.fandom.com/wiki/Larry_Tate
and of course if you get a chance to watch the series itself, you will surely have second thoughts whether capitalism has done any good for the world.