海角大神

On Sunday, voters in Argentina sent a weighty message to other countries going through severe, if necessary, austerity. In a pivotal legislative election, they gave a stronger-than-expected endorsement to President Javier Milei and his policy jolts for an economy dragged down for decades by financial decadence.

The vote was the first national test for Mr. Milei. He more than passed, gaining nearly 41% of the national vote and enough seats in Congress to continue his free-market reforms. Yet it also revealed that Argentines have enough essential shock absorbers 鈥� prudence, restraint, and patience 鈥� to rely on as Mr. Milei鈥檚 difficult reforms kick in and start to bear fruit.

Inflation and the poverty rate have dropped dramatically since Mr. Milei was elected in 2023, although both measures remain high. Economic activity picked up in August. And the government has achieved its first fiscal surplus in 14 years, winning support from key international creditors.

This initial progress, as well as the election result, is more than a sign of public resiliency. It shows that Argentina, which is Latin America鈥檚 third-largest economy and one of its most abundant in resources, has the ability to adopt new ideas and practices. 鈥淲e want to be a country that grows,鈥� Mr. Milei said after his party鈥檚 win.

The president himself hinted that he may adopt a new practice 鈥� dialogue and compromise. Not known for his nuanced political skills, the libertarian economist invited his rivals in Congress to 鈥渇ind common ground鈥� during the second half of his four-year term. 鈥淭here are dozens of deputies and senators from other parties with whom we can reach basic agreements,鈥� he said.

That could set a new tone for a country still divided between left-leaning statist populism and right-leaning economic discipline and open markets. Soon after he took power, Mr. Milei asked citizens for their 鈥減atience and trust.鈥� With this election, he won it. It shouldn鈥檛 be a shocker if he now shows patience and trust with his opponents.