Argentina is already “dollarized.” For Javier Milei to decree dollarization would be for him to insert the state into monetary policy. In reality, the only policy for money should be freedom to produce, after which money and its so-called “supply” will take care of itself.
This truth will annoy economists, and in particular economists wedded to the various interventionist religions, but it’s true nonetheless, and the dollar’s global circulation in so many countries (including Argentina) is loud evidence of it.
Milei won on getting the state out of Argentina’s affairs, economic affairs in particular. How unfortunate if he leads with a policy that empowers the state, one brought to him by economists who fancy themselves free market only insofar as they’re doing the planning of those markets.
Read the entire article at Forbes
