Sometimes a political miracle comes along. The election of Javier Milei as Argentina’s new president may turn out to be an enchanting, but ultimately disheartening, event in the ongoing history of our Western Hemisphere neighbor. Or it may be the spark that touches off a passionate embrace of individual liberty and free enterprise that is nothing short of revolutionary.

Just as America seems to be losing confidence in the virtues of its founding values and democratic capitalism, giving up on ever reining in federal spending or limiting the scope of government, Mr. Milei arrives to say that we must keep fighting. “The enemy is socialism,” he boldly proclaims. “The enemy is statism, the enemy is collectivism.”