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On Sunday, the populist Austrolibertarian Javier Milei was elected president of Argentina. In the United States, the reaction ranged from concerned curiosity on the part of the political establishment to enthusiastic celebration across the populist Right—including, notably, some economic nationalists. Several renowned libertarians also brought

Central banks around the world target a stable price inflation rate of 2 percent annually over the medium term. This is widely considered to be monetary policy’s most important contribution to the smooth functioning of a dynamic economy. This view is wrong on multiple grounds,