Routledge Frontiers of Political Economy Populism and Modern Monetary Theory

With a keen focus on the contemporary case of Javier Milei, this book explores the cyclical nature of Argentina's economic crises and the corresponding rise of populist leaders. Centred on Javier Milei’s recent ascent, this book explores the cyclical nature of Argentina's economic crises and the corresponding rise of populist leaders. It argues that populism represents a revolutionary stance that should be reclaimed by progressive movements, examining the relationship between financial turbulence and populist allure through the lens of heterodox economics, particularly Modern Monetary Theory. It also provides a fresh re-reading of Argentine history leading up to Milei’s presidency, using post-Keynesian framework to analyse the complex interplay between fiscal policies and political ideologies. The book demonstrates how Modern Monetary Theory can theoretically justify expansive fiscal policies central to populist platforms, enriching debates about the economic viability of populist governance. Milei's unique blend of heterodox economic policies and populist rhetoric, characterised by deregulation, privatization, and radical reductions in government spending, presents a crucial juncture for examining intersections between economic principles and populist mechanics. Integrating economic theory, historical context, and political analysis, this work contributes to political economy, heterodox economics, and Latin American studies.