Daniel Rosso, a prominent Argentine sociologist and co-author of Pensar la Comunicación Política, has described President Javier Milei as representing "the disappearance of all limits." In a recent interview with Perfil, Rosso analyzed the evolving political communication landscape in Argentina, emphasizing how Milei's leadership challenges traditional frameworks of discourse and power dynamics. According to Rosso, Milei’s approach is complex and multifaceted, constantly shifting and adapting, which makes him difficult to categorize within conventional political paradigms. This fluidity, Rosso argues, is a defining feature of Milei's political communication strategy. Rosso noted that Milei has deliberately positioned himself outside the traditional left-right polarization that defines much of Argentine politics. By doing so, he has managed to consolidate support from individuals and groups who feel marginalized by both major political blocs. This strategy, according to Rosso, involves creating a unified category of opposition under the label of "casta," a term used to describe a perceived elite class that stands against Milei’s vision. The sociologist explained that this concept of "casta" functions as a central tool in Milei’s rhetoric, allowing him to frame his opponents as a monolithic force opposing his libertarian agenda. In contrast to the liberal tradition, which Rosso described as inherently self-restrained and bound by its own limitations, he characterized Milei’s ideology as one that seeks to eliminate such constraints. Drawing upon the work of scholars Steven Levitsky and Daniel Ziblatt in their book How Democracies Die, Rosso highlighted the key difference between liberalism and the libertarian movement represented by Milei. Liberalism, he argued, implies setting boundaries on one’s own power before encountering legal restrictions. Milei, however, operates under a different logic, one that rejects these self-imposed limits entirely. The issue of high default rates among private credit holders in Argentina has become increasingly pressing, particularly in light of Milei’s stance on minimal state intervention in economic matters. According to data compiled by the Faculty of Business Sciences at the University of Austral and the consulting firm EcoGo, the overall default rate on consumer credit in Argentina has surged dramatically over the past 18 months. As of the fifth month of the year, the irregularity rate reached 12.8 percent, the highest level recorded in more than two decades. This figure represents a significant portion of the country’s salary mass, indicating widespread financial distress among households. The problem extends beyond traditional banking institutions and fintech platforms offering predatory interest rates. It has also affected large supermarket chains, which provide their own credit cards to consumers. These cards have led to default rates exceeding 50 percent in some cases, further exacerbating the crisis. Argentina now holds the top position in Latin America for private sector credit defaults, with an irregular portfolio equivalent to 7.6 percent of the total, according to data from the consultancy 1816 using information from the World Bank. This places Argentina significantly ahead of other regional economies, including Ecuador, Peru, Brazil, and Bolivia. Despite Milei’s commitment to a libertarian economic model, there are instances where the state does intervene in economic affairs. For example, funds collected through fuel taxes were partially diverted to finance infrastructure projects unrelated to road maintenance, raising concerns about misuse of public resources. Additionally, Milei has implemented benefits worth up to two billion dollars through mechanisms like the RIGI program and tax exemptions for the knowledge economy, continuing policies initiated by previous administrations. A report by researcher Gustavo García Zanotti revealed that the online marketplace Mercado Libre, owned by Marcos Galperín, a vocal supporter of the libertarian government, received substantial fiscal incentives totaling 68 billion pesos during the first half of the year. These developments underscore the complexity of Milei’s governance approach, blending strict adherence to libertarian principles with occasional state interventions that challenge the very notion of minimal interference. As the nation grapples with rising debt levels and economic uncertainty, the interplay between Milei’s ideological commitments and practical governance will continue to shape Argentina’s political and economic trajectory.
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