Why not? The country's inflation rate is approaching 150%. 40% of its people live in poverty. The currency is practically worthless. And Argentina is the IMF’s largest debtor because practically no one else will lend it money.

By any definition, the country is an economic basket case. However, unlike the rest of the world’s failed economies, Argentina has a well-educated population, innovative world-class tech sector, robust natural resources, and world-leading wheat, soybeans, and meat exports.

Arguably, Argentina isn’t a failed state, but it has mostly been run by failed politicians.

So it is not surprising that voters just opted to try something radically different, electing a president who describes himself as an "anarcho-capitalist" and promised to use a chainsaw (one of his favorite campaign props) to slash government spending. Can Javier Milei fix what’s broken? Will Argentina’s entrenched politicians get out of the way of his promised shock therapy?

Eduardo Amadeo is optimistic, as you will hear in this episode of New Thinking for a New World. That’s a good sign since Amadeo--economist, businessman, social entrepreneur, and politician—has spent much of his career trying to get his fellow countrymen headed in the right direction. Maybe a radical libertarian economist will finally get the job done.

Listen and tell us whether you think Argentina can finally escape the mess it has made for itself HERE.