Steve Forbes, editor-in-chief of Forbes U.S. and grandson of the magazine’s founder, recently expressed support for Argentine President Javier Milei’s economic reforms during an interview with Forbes Ukraine. Forbes, who has a long history in media, economics, and politics, emphasized that Milei’s approach, while radical, is necessary for Argentina’s economic recovery.
Forbes highlighted the importance of free markets and criticized excessive regulation in the U.S., citing examples such as overly restrictive rules for apple orchards and pizza ovens in New York. He estimated that unnecessary regulations cost the U.S. economy up to $2.5 trillion annually, with manufacturing regulations alone costing businesses an average of $25,000 per employee.
He praised Elon Musk and his team for working to eliminate absurd regulations and expressed support for Trump’s efforts to reduce regulatory burdens, including easing water flow restrictions on showers. Forbes also discussed the importance of stable currency and criticized irrational climate-related regulations, arguing that wind turbines and solar panels cannot fully replace natural gas or nuclear energy.
Regarding Argentina, Forbes stated that Milei’s reforms are radical but necessary. He urged Milei to take further steps such as dollarization and closing the Central Bank to combat inflation effectively. He also suggested that Ukraine could benefit from similar reforms by reducing bureaucracy and simplifying rules for business creation.
On U.S.-China trade relations, Forbes acknowledged an ongoing trade war and called for more targeted tariffs rather than broad-based ones. He criticized China for intellectual property theft and cyberattacks, and advocated for stronger U.S. military capabilities to counter Chinese expansion in international waters.
Forbes also addressed Ukraine’s post-war economic development, suggesting the country could follow models like Switzerland, Singapore, or Slovakia by lowering trade barriers, adopting a stable currency, and creating a business-friendly environment with low taxes and minimal government spending.
— news from Forbes Argentina