Argentina's new president,

Javier Malay, took office late last year,

promising some bold ideas for fixing the country's broken economy.

He said he wanted to shut down the central bank, switch from the peso to the US dollar, dramatically cut regulations and slash social programs.

He'd often bring a chainsaw to campaign events

to illustrate his point. And he calls himself an anarcho-capitalist? What does that mean?

Basically it means that he sees the state and the regulations and the public sector

as kind of the problem across the board essentially it's not the solution for

anything. That's our colleague Ryan Dubay, who covers Latin America.

So unfettered capitalism, right?

That any type of regulations is harmful for the individual, for the freedom,

and for society in general.

So that's his perspective on how Argentina should be run, with minimal, minimal kind of state intervention

or state role in the economy or in the lives of people in general and that the solution

is the private sector.

In a recent interview, Malay told the Wall Street Journal that drastic change is the country's only option.

There is no plan B. There is no plan B to do things right. You either do things right or you do them right.

Because if plan B is to start doing things halfway or compromise. That's the story of Argentina and that's

where we are now.

Welcome to the journal, our show about money, business, and power. I'm Ryan Knutzen.

It's Tuesday, January 30th.

Coming up on the show, Argentina's new president on his bold plan to overhaul the economy.

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