In this video, Patrick Bet-David reacts to Argentine President Javier Milei’s epic speech at the annual World Economic Forum in Davos, Switzerland.

As Valuetainment previously reported, Milei delivered a speech that not only silenced critics but championed capitalism, offering compelling data and historical insights. In this video, Patrick dissects the Argentinean president’s powerful message, focusing on how capitalism has dramatically reduced extreme poverty worldwide and highlighting the correlation between freedom and prosperity.

Milei’s speech emphasized that countries with more freedom are significantly wealthier, and their citizens enjoy a higher standard of living and longer life expectancy.

Learn the benefits of becoming a Valuetainment Member and subscribe today!

Here are some key quotes and insights from Milei’s speech, selected by Patrick:

  • “Countries that have more freedom are 12 times richer than those that are repressed. The lowest percentile in free countries is better off than 90 percent of the population in repressed countries.”
  • “Poverty is 25 times lower and extreme poverty is 50 times lower. And citizens in free countries live 25 percent longer than citizens in repressed countries.”
  • “The market is not a mere graph describing a curve of supply and demand. The market is a mechanism for social cooperation where you voluntarily exchange ownership rights. Therefore, based on this definition, talking about a market failure is an oxymoron.”
  • “It’s impossible for there to be market failures.”
  • “If transactions are voluntary, the only context in which there can be a market failure is if there is coercion. And the only one that is able to coerce generally is the state, which holds a monopoly on violence.”
  • “Finally, I would like to leave a message to all the businessmen present here and to those who are watching us from all corners of the planet. Do not be intimidated by the political caste or by parasites who live off of the state. Do not surrender to a political class that only wants to stay in power and retain its privileges. You are social benefactors. You are heroes. You are the creators of the most extraordinary period of prosperity we have ever experienced. Let no one tell you that your ambition is immoral. If you make money, it is because you offer a better product at a better price, thus contributing to the general welfare. Do not give in to the advance of the State. The State is not the solution. The State is the problem itself. You are the true protagonists of this story. And know that from today, you have an unwavering ally in the Argentine Republic.”

“Some might reply that we don’t live under socialism, or collectivism, or whatever you would like to call it, because the means of production are held in private and have not been confiscated by the state,” Milei stated. However, “Today, states don’t need to directly control the means of production to control every aspect of the lives of individuals.”

21st Century means of state control, according to Milei, include: printing money, debt, subsidies, controlling the interest rates, price controls, regulations to correct so-called market failures.

In the 19th Century, the majority of humanity was living in what we would now define as poverty. This is the core insight that Milei stuck with throughout his speech, consistently applying its lesson in talking points derived from it. This disarmed Klaus Schwab and other market-skeptic people in the room, because he put them on their toes and made them seem like the bullies. He did not fall for their trap by getting worked up and angry and getting forced to endorse a flurry of crimes that market capitalism is not in fact responsible for. Instead, he shifted the blame for moral outrages onto the 21st Century means of state control listed above.

Milei’s speech showed capitalists that they do not need to play defense, but can constantly play offense by sticking to core principles that insist not only upon the superior productivity but the superior morality of capitalism.


Shane Devine is a writer covering politics, economics, and culture for Valuetainment. Follow Shane on X (Twitter).

Add comment