Why are so many MAGA-conservatives attracted to Milei? In strictly political-economic terms, it shows that conservatives, particularly in the US, still very much live in the shadow of Reaganism: they adhere to a cartoonish form of libertarianism, where the state is the source of all evil and oppression, while the self-regulating market — or “true capitalism” — is framed as a promised land capable of delivering freedom and prosperity. This is tragically naïve.