Axel Kaiser Explains the Javier Milei Effect

Javier Milei Axel Kaiser discusses Latin America’s political realignment, the battle over culture, and why libertarians need to talk about virtue. | 9.30.2026 11:00 AM Today's guest is Axel Kaiser, a Chilean-German lawyer, author of The Street Economist, and classical liberal who has spent years promoting free markets and limited government across Latin America. He is the co-founder and board president of Chile's Foundation for Progress and deputy executive director of Argentina's FARO Foundation. Nick Gillespie talks with Kaiser in Argentina about how Javier Milei transformed libertarianism from a largely intellectual movement into a popular political force and whether that shift can outlast Milei himself. They discuss the decline of Peronism, the resurgence of free market ideas across Latin America, and the tension between populism and liberalism. Kaiser also explains why libertarians need to compete for cultural influence, from universities and think tanks to movies and social media, and why a free society depends on more than limiting government. 0:00—What happens when libertarianism goes mainstream? 3:32—What is Peronism? 7:08—How did Milei make libertarianism cool? 10:41—Will Milei succumb to populism? 18:02—Is liberty more important than democracy? 22:33—The resurgent right in Latin America 25:57—Is Latin America embracing socially liberal values? 29:55—The effects of Venezuela's implosion 37:23—Cultural superstructures 48:05—The influence of movies in culture 53:43—Have libertarians stressed liberty to the exclusion of virtue? 1:00:09—Pope Francis and capitalism 1:05:03—Chile's private pension system Upcoming Reason Events The World Premiere of Escaping Venezuela October 13 Today's Sponsor: Cato Innovation Project: Design your own full-time, paid role at Cato. If we fund your idea, you spend two years executing it. Apply here: cato.org/reasonmag. NEXT: Trump's Iran War Is Losing With Everyone (Even Republicans) Javier MileiArgentinaLatin AmericaLibertarianismPopulismChileCultureCapitalismPope FrancisEconomics