![Dollarization Is About Who Pays to Clean Up Argentina’s Mess](https://i0.wp.com/contentedreader.com/wp-content/uploads/2023/11/1700697178_social.jpeg?resize=768%2C432&ssl=1)
Javier Milei knows how to create a stir. Not only has Argentina’s president-elect shaken up his own country’s politics. He also has sparked a global debate about inflation, economic reform and dollarization—and, even more unusual, an interesting debate about these things. It’s a Thanksgiving-week miracle.
Critics of Mr. Milei’s pledge to ditch the dysfunctional peso and embrace the almighty dollar have focused on relatively narrow questions: whether Argentina holds enough dollar reserves to implement such a policy, whether it is likely to have the fiscal discipline to sustain it, whether the banks could survive it, and so on.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8