When Mario Vargas Llosa died in Lima on 13 April 2025, the Hispanic world lost its most articulate apostle of classical liberalism. This episode dissects not the novels — brilliant though they are — but the ideas that powered them. We trace his migration from early Fidelista enthusiasm to a creed rooted in Popperian fallibilism, Hayekian humility and Tocquevillian suspicion of centralised power. The argument that binds his essays, speeches and presidential programme is simple: individual liberty, secured by robust institutions and an open economy, is civilisation’s most perishable asset.  

📌  What we examine
• The formative break with utopia

After the Padilla affair in Havana and Prague’s crackdown, Vargas Llosa declared the revolutionary dream bankrupt and began reading Hayek and Popper “as antidotes to romantic illusions”. Their stress on dispersed knowledge and pluralism became the spine of his later polemics.  

• Seven tutors of freedom

La llamada de la tribu (2018) surveys seven liberal thinkers—from Adam Smith to Isaiah Berlin—whom he credits with curing Latin America of its “authoritarian nostalgia”. We tease out the book’s central lesson: prosperity is impossible without open debate and secure property rights.  

• The 1990 Peruvian wager

Running for president under the FREDEMO coalition, Vargas Llosa offered shock liberalisation, independence for the central bank and titles for shanty-town dwellers—policies Peru adopted, piecemeal, even after he lost to Alberto Fujimori. The campaign proved that a manifesto can quote The Wealth of Nations and still fill football stadia.  

• Spain’s accidental tribune

Naturalised in 1993, he used his Nobel-honed baritone to defend Spanish constitutional unity during Catalonia’s rupture in 2017, warning that “identity politics is the anteroom of authoritarianism”. His address on Barcelona’s Paseo de Gràcia remains a textbook example of civic, rather than ethnic, patriotism.  

• Liberalism in the age of populists

Through columns and the Fundación Internacional para la Libertad, Vargas Llosa lambasted caudillos of left and right—Fidel Castro, Hugo Chávez, Jair Bolsonaro—arguing that populism’s true antagonist is the rule of law, not any single ideology.

• Literature as reconnaissance

The novels—Conversation in the Cathedral, The Feast of the Goat—serve as case-studies in power’s corruptions, dramatising the very abuses his essays diagnose. Fiction, for him, is the laboratory where liberalism runs its stress-tests.

📚  Suggested reading for listeners
La llamada de la tribu (2018) – intellectual autobiography of a liberal convert.

El pez en el agua (1993) – memoir of the 1990 campaign.

Sables y utopías (2009) – 20 years of essays against authoritarianism.

Speeches from the 2017 Barcelona rally and the 2010 Nobel lecture (links in show notes).

🔥 Follow the co-hosts on X

Diego: @diegolacruz

Rasheed: @rasheedguo

🚨 In this Episode: 

Ecuador is one of the rare Latin-American economies that has zero price-tag chaos — and that’s thanks to its quarter-century embrace of the U.S. dollar. In 1999 the sucre collapsed, inflation hit 37 percent a year and banks went belly-up; twelve months later dollarization tamed prices and — even today — remains supported by roughly eight in ten Ecuadorians.

But political calm never followed monetary calm. We track the arc from Rafael Correa’s left-populist decade, which expanded the state while muzzling the press yet never dared scrap the dollar, through Lenín Moreno’s surprise liberal pivot and Guillermo Lasso’s failed reform push that ended in a “muerte cruzada”.

Now 37-year-old President Daniel Noboa confronts the region’s fastest-rising murder rate — 40-plus per 100 000 inhabitants — while promising to keep the hard-currency anchor, court investors and wrest back prisons from narco-gangs. Can Ecuador re-build institutions before violence, blackouts and populist nostalgia upend the gains of dollarization?

Press play for a data-rich journey through Ecuador’s economic miracle and democratic growing pains.

Don't forget to like, SUBSCRIBE, and share your thoughts in the comments - What do you think Noboa should do first?

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Diego: @diegodelacruz

Rasheed: @rasheedguo

🚨 This podcast episode is a celebration of Liberalism and Cosmopolitanism: a real-world demonstration that open markets and open minds can deliver prosperity. 

🔑 In 1990 less than 1% of the Spanish population were foreign residents.The foreign-born population was even smaller, with immigrants accounting for about 0.5% of residents 

As of January 1, 2025: 14% of residents in Spain are foreign nationals.

18.2% of Spain’s population was born outside the country.

1 in 7 residents of Madrid were born in Latin America. 

Spain flipped from near-zero immigration in 1990 to Europe’s most dynamic melting-pot today. We unpack how free-market reforms, EU membership and Spain’s famously liberal social scene turned the country into a magnet for Latin-American talent — reshaping Madrid and offering a hopeful fix for Europe’s aging crisis.

Don't forget to like, SUBSCRIBE, and share your thoughts in the comments - What do you think other European countries can learn from Spain?

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Diego: @diegodelacruz

Rasheed: @rasheedguo

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Bolivia was once celebrated as South America's economic success story—rich in natural gas, flush with exports, and rapidly reducing poverty. Today, it's spiraling into crisis: crippling fuel shortages, disappearing reserves, soaring debt, and political chaos threaten total collapse.

 In this no-holds-barred breakdown, we expose:

The Gas Boom Turned Bust: How did Bolivia lose half its gas production and become trapped importing fuel it can't afford? Fiscal Catastrophe: Public debt skyrocketing from 38% to 85% of GDP, reckless subsidies, and deficits spiraling out of control—what went wrong? 

Currency Collapse: Foreign reserves plummeting from $15 billion to almost nothing, a runaway black market for dollars, and a failed currency peg—is Bolivia already past the tipping point? Political Meltdown: How internal political warfare, institutional rot, and governmental dysfunction have deepened economic distress. 

The Lithium Illusion: Could lithium reserves save Bolivia, or is it yet another mirage of false hope?

Join Diego and Rasheed as they critically dissect Bolivia’s silent but severe economic disaster, exposing the dangerous realities facing the country and the grim outcomes if drastic measures aren't taken.

Don't forget to like, SUBSCRIBE, and share your thoughts in the comments - What do you think it would take for Bolivia to recover? 

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Diego: @diegolacruz

Rasheed: @rasheedguo

 Listen now wherever you get your podcasts and subscribe to stay informed.

🚨 The Economic Boom Propaganda has to END 🚨  

Ever heard about the "economic rocket" the Spanish government is bragging about? It is a hoax. Instead of soaring upward, Spain is spiraling into debt, joblessness, and misery— faster than ever! 

Meanwhile, Prime Minister Sánchez keeps tightening his grip, silencing judges and the press. Did you realize Spain now leads Europe's misery index BY A MILE? We're at 14.4 points, while the EU average is just 8.8. And that's WITH their statistical games! If we cut through their lies (like the infamous "fijos discontinuos" trick), the real misery number is nearly 19.5 points. 💥🚀📉

They're inflating GDP retroactively just to fake growth, but here's the harsh truth: our GDP per capita is still stuck at the bottom. Debt is SKY-HIGH , taxes are choking families, and foreign investment is running away. Employment hasn't moved since 2019, and wages are flatlining. So what's really improved? ABSOLUTELY NOTHING!

They claim our "tax burden" is down—but that's PURE PROPAGANDA. By pumping up nominal GDP numbers, they pretend we're paying fewer taxes, while secretly picking our pockets deeper every day. And guess what? They're coming back for MORE taxes that hit the middle class the hardest.  

In this video, we're blowing their lies wide open:  

✅ How they're cooking the unemployment stats  

✅ Why Spain’s "GDP growth" is fake news  

✅ The tax hike that's destroying the middle class

Don't forget to like, SUBSCRIBE, and share your thoughts in the comments — do you think we are too harsh against Sánchez’s claims of an ongoing economic boom?

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Diego: @diegolacruz

Rasheed: @rasheedguo

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🔴 Is Javier Milei a genuine libertarian, or is he drifting dangerously close to populist conservatism? In this episode, we dive deep into the ideology of Argentina's self-identified anarcho-capitalist President, Javier Milei, unpacking the critical differences between true modern liberalism (for our European audience) and authentic libertarianism (for those tuning in from the USA).

We critically examine Milei's recent ideological shifts and explain why his heavy focus on culture war topics might ultimately undermine his libertarian principles and political effectiveness. From his increasing alignment with traditionalist thinkers like Agustin Laje to his concerning ties with conservative populist groups such as Spain's Vox party, we dissect why these alliances may betray core libertarian ideals.

Join us for a nuanced discussion that clarifies the foundations of libertarian thought, highlights where Milei deviates, and explores why history repeatedly shows that blending libertarianism with cultural conservatism tends to backfire. Whether you're a supporter, a skeptic, or simply curious, this episode will provide insights that encourage thoughtful reflection on what libertarianism truly represents.

Don't forget to like, subscribe, and share your thoughts in the comments — do you think Milei can still claim the libertarian label?

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Diego: @diegolacruz

Rasheed: @rasheedguo

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What's really happening in Argentina under President Javier Milei? In this episode, we take a deep dive into the controversial "Chainsaw Reforms" introduced by President Milei, a radical set of policies aimed at drastically reshaping Argentina’s economy; under an anarcho-capitalist framework. We will defend - in great detail - the view  that these measures are the real solution Argentina needs.

We explore the complex political legacy beginning with Carlos Menem’s liberal reforms, continuing through the chaotic economic mismanagement of Cristina Kirchner’s administrations, which left the country economically fragile. Additionally, we discuss the disappointing failure of Mauricio Macri’s government to deliver meaningful structural change, despite early optimism.

Interestingly, Milei has recruited key figures from Macri’s economic team. Does this mean Argentina risks repeating past mistakes, or can Milei's radical libertarian approach finally deliver sustainable growth by implementing the so-called Chainsaw 2.0 Reforms?

Key Discussion Points:

• Legacy of Carlos Menem’s neoliberal reforms
• Economic chaos under Cristina Kirchner
• Mauricio Macri's missed opportunity for structural reform
• Milei's "Chainsaw Reforms"
• The impact of Macri-era economists in Milei’s team
• Future scenarios: prosperity or increased economic peril?

Tune in for a critical and detailed analysis of Milei's Argentina.

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Diego: @diegolacruz

Rasheed: @rasheedguo

Listen and subscribe to stay informed.

Welcome to the inaugural episode of The Capitalismo Podcast, a new series dedicated to exploring the political economy of the Hispanic world entirely in English.

In this first episode, co-hosts Diego Sánchez de la Cruz and Rasheed Griffith examine Spain’s landmark transition from the Franco dictatorship (1939–1975) to a modern constitutional democracy. 

Referred to as La Transición in Spain, this period remains a cornerstone of European political history and continues to influence Spain’s contemporary governance structures and debates over monarchy versus republicanism, as well as regional autonomy.

Key Topics Covered:

• Historical Context: Understanding Franco’s authoritarian regime and why its collapse left a complex legacy.
• Power Vacuum and Reform: The political uncertainty following Franco’s death, and tensions between hardliners and reformists.
• King Juan Carlos I’s Unexpected Role: How Franco’s chosen successor became an unexpected advocate for democracy, guiding early reforms and symbolically uniting divided factions.
• Adolfo Suárez & Torcuato Fernández-Miranda: The critical roles played by these political leaders in dismantling Francoist structures, legalizing opposition parties, and steering Spain toward democratic elections.
• 1978 Constitution: Examining the creation and approval of Spain’s foundational democratic document, including its establishment of a constitutional monarchy and autonomous communities.
• Contemporary Relevance: How the legacy of La Transición continues to influence present-day debates on monarchy vs. republicanism, regional autonomy, and governance in Spain.
  
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  Diego: @diegolacruz
  Rasheed: @rasheedguo
  
  Subscribe now on YouTube and all podcast audio players for policy-oriented deep dives into the economic, political, and historical dynamics of the Hispanosphere — in English.