Most typically, free humans worldwide fear the organization because of the policies of control and dominance over freedom- commonly discussed by the world’s most powerful politicians.
Milei’s recent speech should be a primer to all politicians who want to take the road of weak appeasement to avoid conflicts with Neo-Marxists or who want to control the destiny of free people. This speech is a call to action, and according to the reception he is getting, people are embracing his words- worldwide.
People often fear the topic of the WEF- economics. Somehow, Milei has made economics “sexy again”.
So, this year’s meeting of WEF was very different, as Milei brought unexpected inspiration and unexpected transformative moments, likely to spark creativity, motivation, and insight into the Western World. Read some facts and figures about WEF.
Milei lit a sudden spark with his words, which have gone viral. What he said about liberty and freedom could propel people into new ideas, perspectives, and actions. KEY POINT:
Who agrees with President Milei? 🙋♂️ pic.twitter.com/hyPreYZVKr
— 👉M-Û-R-Č-H👈 (@TheEXECUTlONER_) January 19, 2024
Milei unexpectedly transcended the routine talk of dominance, control, and socialism and infused life into politics, carefully illustrating why people need to pay attention to who is in power- and he did it with renewed energy and purpose for a world exhausted from trying to outrun the control freaks in politics.
What happened during his 23-minute speech for the world will hopefully ignite the beauty of unexpected talk of harmony, liberty, and peace and lead to personal and creative growth for Marxists and other types of controlling personalities like socialists and Communists.
Milei illustrated how economic freedom within life’s journey can make many factors more vibrant and fulfilling for much of humanity, including the ones who have suffered under controlling and soulless politicians.
Much excitement for renewal is all found in a topic too many people ignore, thinking it is dry and stale- economics.
Milei is an economist who has taught university courses in macroeconomics, economic growth, microeconomics, and mathematics for economists. His Bio states, “Milei’s views distinguish him in the Argentine political landscape and have garnered significant public attention and polarizing reactions.”
He talked about the threat to the Western world, attributing it to leaders adopting a worldview leading to socialism, and emphasized the success of free-market capitalism with a critique of neoclassical economic theory, warning against state control, socialism, and diminished freedom. WATCH:
AUTHOR’S SUMMARY:Milei's 2024 Davos talk, directly translated to English by AI (by heygen), in his own accent. Better than the dubbed version imo. pic.twitter.com/8OAGELuqxl
— Aaron Slodov (@aphysicist) January 18, 2024
[0:00-10:00]
Milei began by expressing concern about a perceived threat to the Western world, attributing it to leaders adopting a worldview that leads to socialism and economic deprivation—arguing that collectivist experiments cause problems rather than solutions. He emphasizes the historical success of free market capitalism, pointing to exponential economic growth since the Industrial Revolution and the significant reduction in global poverty.
His argument is structured around the idea that capitalism, as an economic system, is not only productive but also morally superior, and he criticized the concept of social justice, arguing that it is inherently unfair and coercive as it relies on state-funded taxation. Milei emphasized the importance of the market discovery process in capitalism, suggesting that hindering entrepreneurship through collectivism reduces incentives and harms society.
Contending that capitalism has led to unprecedented global prosperity, citing statistics on the wealth, well-being, and longevity of citizens in free countries compared to repressed ones. He concluded this segment by proposing a future model for Argentina based on libertarian principles, advocating unrestricted respect for individuals’ life projects, non-aggression, and the defense of life, liberty, and property.
KEY POINT: “The successful entrepreneur in this model is portrayed as a social benefactor and hero.”
[11:00-20:00]
Milei highlighted the success of free market capitalism and economic freedom in eradicating global poverty, emphasizing the current favorable period in human history. However, he expressed concern that the West is in jeopardy due to errors in the theoretical framework and ambitions for power within the political and economic establishment.
His critique is directed at neoclassical economic theory, which he argues inadvertently facilitates state socialism and societal degradation. Milei challenged the concept of market failure within neoclassical economics, asserting that voluntary transactions in the market cannot lead to failure. Then, he contended that regulations targeting perceived market failures open doors to socialism and undermine economic growth.
The discourse extends to the shift in socialist agendas, moving away from class struggle to focus on conflicts such as gender inequality and human impact on the environment. Milei criticized these new battles as harmful to economic processes and leading to increased state intervention.
He concluded this segment with a warning about the influence of neo-Marxists in media, culture, universities, and international organizations, urging confrontations of these ideas to prevent further descent into state control, regulation, socialism, poverty, and diminished freedom in the West.
Milei argues that, despite different labels, various political ideologies ultimately advocate for extensive state control over individuals’ lives.
KEY POINT: People must actively resist the influence of neo-Marxist control over free people. If you are not part of the solution, you are part of the problem.
[20:00-23:00]
Milei urged other Western countries to reconsider their path and embrace prosperity, economic freedom, limited government, and respect for private property. Drawing on Argentina’s own experience, he emphasized the tangible impact of collectivism, warning against the potential consequences if Western nations deviate from the model of freedom that led to their prosperity.
The Argentine case is presented as empirical proof that factors like wealth, resources, population, and education do not guarantee success if measures are taken to hinder free markets, competition, and private property. He encouraged entrepreneurs to resist political pressures and not be intimidated by those who seek to preserve political power.
Entrepreneurs are praised as social benefactors and heroes, contributing to prosperity through their products and services. The state is portrayed as a problem, not a solution, and the speaker pledges Argentina as an ally in advocating for freedom. The message concludes with gratitude and a call for the longevity of liberty.
KEY POINT: Entrepreneurs are the most real humanitarian warriors in all politics. WATCH:
In a nutshell… pic.twitter.com/TJ9ZT1D1MA
— WSD (@_wallstreetdev) January 18, 2024
UNOFFICIAL TRANSCRIPT IN ENGLISH:
[00:00-10:00]
Good afternoon. Thank you very much. Today, I inform you that the Western world is facing a significant threat. 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, to poverty and economic deprivation.
Unfortunately, in recent decades, motivated by some well-intentioned desires to help others and others by the desire to belong to a privileged cast, the prominent leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism.
We are here to tell you that collectivist experiments are never the solution to the problems afflicting the world’s citizens; instead, they are their cause. Trust me, there is no one better than us—Argentines to provide testimony on these two issues.
When we embraced freedom in 1860, in 35 years, we became the world’s first dominant power. In 35 years, we became the foremost world power while we embraced collectivism over the past 100 years.
We saw how our citizens began to systematically impoverish themselves until they fell to the 100 and 40th position in the world 40 In the world. Still, before we can have this discussion, it would be essential for us to first look at the data that supports why free market capitalism is not only a possible system to end world poverty but also the only morally desirable system to achieve it.
If we consider the history of economic progress, we can see how from Year Zero until around 1800 The world’s per capita GDP remained practically constant throughout the reference period. If one looks at a chart of the evolution of economic growth throughout human history, one would see a chart with the shape of a hockey stick, an exponential function that remained constant for 90% of the time and exponentially shot up from the 19th century.
The sole exception to this stagnant history was at the end of the 15th century with America’s discovery; except for this, from Year Zero to 1800, global per capita GDP remained stagnant without any significant changes. Now, not only did capitalism generate an explosion of wealth from the moment it was adopted as an economic system, but if one analyzes the data, what is observed is that growth has been accelerating throughout the entire period. During the entire period between years zero and 1800, the per capita GDP growth rate remained stable at around 0.02% annually, that is, practically without growth from 19th century with industrial revolution, growth rate reaches 0.66%.
Given the current rate, it would require a timespan of approximately 107 years to achieve a two-fold increase in per capita GDP. From 1900 to 1950, the growth rate rises to 1.66% annually. 150 growth rate rises to 1.36% annually. We no longer need one under seven years to double per capita GDP, but 66 If we take the period between 1950 and the year 2000, we can see that the growth rate was 2.1% annually, which would mean that in just 33 years, we could double the world’s per capita GDP.
This trend, far from stopping, remains alive even now. If we consider the period from 2000 to 2023. The growth rate increased again at 3% per year, meaning we could double our per capita GDP globally in only 23 years. Now, when studying per capita GDP from 1800 to today, what is observed is that after the Industrial Revolution, global per capita GDP multiplied by more than 15 times, generating an explosion of wealth that lifted 90% of the world’s population out of poverty.
We must never forget that by the year 1800, about 95% of the world’s population lived in extreme poverty. While that number dropped to 5% by the year 2020. Prior to the pandemic. The conclusion is obvious. Far from being the cause of our problems, free market capitalism, as an economic system, is the only tool we have to end hunger, poverty, and destitution throughout the planet. The empirical evidence is unquestionable. Therefore, as there is no doubt that free market capitalism is superior in productive terms. The left’s doxa has attacked capitalism for its moral issues or being, according to them, as his detractors say, unjust.
They claim capitalism is bad, because it’s individualistic. And collectivism is good because it’s altruistic towards others. And thus they strive for social justice. But this concept that has become trendy in the developed world recently, in my country, it has been a constant in political discourse for over 80 years. The issue is that social justice is unfair and doesn’t contribute to general well-being. On the contrary, it’s an inherently unfair idea, because it’s violent. It’s unfair because the state is financed through taxes and taxes are collected coercively or can any of us confidently say that they pay taxes of their own freewill? This implies that the state is funded through coercion and that the higher the tax burden, the greater the coercion, reducing freedom.
Those who promote social justice start from the idea that the economy as a whole is a cake that can be distributed in a different way. But that cake is not given. It is wealth that is generated in what for example, Israel Kirschner calls a market discovery process. If the good or service that the company offers is not desired, that company goes bankrupt unless it adapts to what the market is demanding.
Create a high-quality product at a good price, attract success, and produce more. So the market is a process of discovery where the capitalist finds the right direction on the go. But if the state punishes the capitalist for success and blocks him in this process, it destroys his incentives. And the consequences are that he will produce less and the cake will be smaller, harming society. Collectivism, by inhibiting discovery and hindering appropriation, ties the entrepreneur’s hands, preventing him from producing better goods and offering better services at a better price.
How can it be then that from academia, international logs politics and econ theory, an econ system is demonized that not only has lifted 90% of the world’s poor out of extreme poverty and does so increasingly faster, but it’s also fair and morally superior.
Thanks to capitalism, the world is currently in its best moment. There has never been a moment in history with greater prosperity than the one we live in today. Today’s world is freer, richer more peaceful, and more prosperous than ever before.
This is true for everyone, but particularly for those countries that are free, where they respect economic freedom and individual property rights. Because free countries are 12 times richer than repressed ones. saying goes that in countries with freedom, people live better than 90% of population in repress countries. It has 25 times fewer poor people in the standard format, and 50 times fewer in the extreme format.
And if that weren’t enough, citizens of free countries live 25% longer that citizens have repressed countries. Now, in order to understand what we come to defense, it is important to define what we mean when we talk about libertarianism.
To define it, I take up the words of the greatest proponent of the ideas of freedom in Argentina, Professor Alberto Venegas, Lynch, who says that libertarianism is the unrestricted respect for the life project of others based on the principle of non aggression, and in defense of the rights to life, liberty and property whose fundamental institutions are 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 goods of better quality at a better price. In other words, the capitalist, the successful entrepreneur, is a social benefactor who contributes to the well-being of society as a whole. In short, a successful entrepreneur is a hero.
This is the model we are proposing for the future of Argentina, based on the fundamental principles of libertarianism, the defense of life, freedom and property.
[11:00-20:00] Now, a free market capitalism and economic freedom have been remarkable instruments to eradicate poverty globally. And we are presently experiencing the most favorable period in human history.
It is worth inquiring why I assert that the West is in jeopardy. I argue that the West is endangered, as in countries defending free market, private property and other institutions of libertarianism sectors of the political and economic establishment due to errors in their theoretical framework and ambition for power. Undermine libertarianism, opening doors to socialism and potentially condemning us to poverty, misery, and stagnation.
It should never be observed that socialism is always and everywhere impoverishing failed in all countries. It was a failure economically. It was a failure socially. It was a failure culturally, and it also killed more than 100 million human beings. The main problem of the West today is that we not only have to confront those who, even after the fall of the wall and overwhelming evidence, continue to advocate for impoverishing socialism, but also our own leaders, thinkers, and academics, who, sheltered in a misguided framework undermine the foundations of the system that has given us the greatest wealth and prosperity in our history.
The theoretical framework I am referring to is neoclassical economic theory, which designs an instrument unintentionally functional to the intrusion of state socialism and the degradation of societies.
The issue with neoclassical is that since the model they fell in love with doesn’t match reality, they attribute the error to the supported market failure instead of revising the premises of their model. In the text about a supported market failure, regulations are introduced that only generate distortions in the price system that hinder economic calculation and, consequently, savings, investment, and growth.
This problem essentially lies in the fact that not even supposedly libertarian economists understand what the market is, since if it were understood, it would quickly be seen that it is impossible for there to be such a thing as a market failure. The market is not just a graphical description.
Of a supply curve and a demand curve on a graph. The market is a mechanism of social cooperation, where property rights are voluntarily exchanged. Thus, considering this definition, discussing market failure is a contradiction in terms.
There is no market failure. If transactions are voluntary, the only situation in which there can be a market failure is if there is coercion present, and the only one with the ability to coerce in a generalized manner is the state with the monopoly of violence. Consequently, if someone considers that there is a market failure, I would recommend that they check if there is state intervention in the middle. If no state intervention found suggest reanalyzing as it is definitely wrong. market failures do not exist.
An example of the alleged market failures described by neoclassical are concentrated economic structures. However, without functions that demonstrate increasing returns to scale, whose counterpart or the concentrated structures of the economy, we would be unable to explain the phenomenon of economic growth from 1800 to the present day. Look how interesting commencing from the year 1800 and extending onwards with the population experiencing a multiplication of more than eight or nine times the per capita income underwent a growth of more than 15 times in magnitude.
To clarify, there are more returns. This causes poverty to drop from 95% to 5%. However, the presence of increasing yields implies the existence of concentrated structures, which would be referred to as for example, a monopoly in the market economy. How can it be that something that has generated so much well being according to neoclassical theory, that is considered a market failure.
Neoclassical economists think outside the box when the model fails, don’t get angry with reality get angry with the model and change it. The dilemma for the neoclassical model is that they aim to enhance market functioning by targeting perceived failures.
By doing so, they not only open doors to socialism but also undermine economic growth. For instance, implementing regulations on monopolies, dismantling their profits, and obliterating increasing returns would inevitably annihilate economic growth. In other words, each time you want to correct a presumed market failure, inevitably due to not knowing the market or because you have become attached to a failed model, you are opening doors to socialism and condemning people to poverty.
However, in the face of the theoretical demonstration that state intervention is harmful, the empirical evidence that it failed because it could not be otherwise; the solution that collectivists will propose is not greater freedom but greater regulation, generating a downward spiral of regulations until we all become poorer, and the lives of all of us depend on a bureaucrat sitting in a luxury office.
Given the resounding failure of collectivist models and the undeniable advances of the free world, Socialists were forced to change their agenda. They left behind the class struggle based on the economic system to replace it with other supported social conflicts, equally harmful to community life and economic growth.
The first of these new battles was the ridiculous and unnatural fight between man and woman. Libertarianism already establishes equality between the sexes. The cornerstone of our creed states that all men are created equal and that we all have the same unalienable rights granted by the Creator, among which are life, liberty, and property.
This radical feminism agenda has led to increased state intervention, hindering the economic process. It provides jobs to bureaucrats who haven’t contributed anything to society, whether through women’s ministries or international organizations promoting this agenda.
Another conflict that socialists pose is that of humans against nature. They argue that humans cause harm to the planet and that it must be protected at all costs, even advocating for population control mechanisms or supporting the controversial agenda of abortion rights. Unfortunately, these harmful ideas have strongly permeated our society.
Neo-Marxists have managed to go up the common sense of the Western world. They achieved this through the appropriation of the media, culture, universities, and, yes, even international organizations. The final case is severe, as it involves institutions with massive influence on the political and economic decisions of the countries in these multilateral organizations. Fortunately, more of us dare to raise our voices.
As we see that if we don’t confront 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.
Unfortunately, the West has already started down this path. To many, it may sound ridiculous to suggest that the West has embraced socialism. But this view is only ridiculous if one limits themselves to the traditional economic definition of socialism, which states that it is an economic system where the state owns the means of production.
In my opinion, this definition needs to be updated to reflect the current circumstances from my perspective. Today, states don’t need to control means of production to control every aspect of individuals’ lives, with tools such as monetary issuance, debt subsidies, interest rate control, price controls, and regulations to correct alleged market failures.
They can control the destinies of millions of human beings. This is how we have reached the point where, with different names or forms, good parts of the politically accepted offers in most Western countries are generally collectivist variants. Whether they openly declare themselves as communists, fascists, Nazis, socialists, social democrats, National Socialists, Christian Democrats, Keynesians, Neo Keynesians, progressives, populists, nationalists are globalists. In the end, there are no substantive differences.
Everyone argues that the state should control all aspects of individuals’ lives.
[20:00-23:00] All define a model contrary to the one that led humanity to the most spectacular progress in its history. We are here today to extend an invitation to other Western countries to resume the path toward prosperity, economic freedom, limited government, and unrestricted respect for private property, which are vital for economic growth.
The impoverishment that collectivism produces is not a fantasy, nor is it fatalism. It is a reality that Argentinians have known very well for at least 100 years. Because we have already experienced it. We have already gone through this because, as I said before, since we decided to abandon the model of freedom that has made us rich, we are trapped in a downward spiral where we are getting poorer every day. This is, we have already experienced it ourselves. And we are here to warn you about what can happen if Western countries who became rich with a model of freedom continue on this path of servitude.
The Argentine case is the empirical proof that regardless of wealth, natural resources, population capability, education level or the amount of gold bars in the central bank’s coffers. These factors do not guarantee success. If measures are adopted that hinder the free functioning of markets, pre-competition free price systems, if trade is hindered if private property is attacked, the only possible destination is poverty. To summarize, I want to convey a message to all entrepreneurs present and those who are not, but are following us from around the globe.
Whether they’re here or not physically, don’t be intimidated by the political cost or the parasites who live off the state. Don’t yield to a political class that only wants to prolong its power and preserve its privileges. You are social benefactors, you are heroes.
You are the creators of the most extraordinary era of prosperity we have ever experienced. Don’t let anyone say ambition is immoral. If you earn money, it’s because you provide a superior product at a better price that contributes to well-being and does not yield to the advancement of the state.
The state is not the solution. The state is the problem itself. You are the true protagonist of this story. And know that from today, you have Argentina as an unconditional ally.
Thank you very much, and long life and freedom. We would love for you to support our journalism. Here is one way to do it:
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