It is truly paradoxical: in the USA, where the state has successfully been relied on for decades to keep the economy running, Donald Trump’s billionaire advisors are now calling for a radical reduction in the state’s influence. Libertarians like Elon Musk and Peter Thiel, like their Argentinian role model Javier Milei, firmly believe that only by radically reducing the influence of the state can the market economy be revived and revitalised.
Whether Trump really buys this radical cure is an open question. Given the experience of his first four years in office, he probably realises how heavily the US depends on state stimuli via government debt. In Europe, where people have neither grasped the role of the state in the US nor the role it should play in Europe, the neoliberals à la Merz and Lindner will take the radical reformers’ initiatives as an opportunity to blow their libertarian horn even louder.
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