Back in December 2018, while Brazil was still undergoing its transition from the outgoing Michel Temer administration and the Jair Bolsonaro era, I met with Paulo Kramer, a political advisor to the president-elect. I wanted to know how much of a pro-market libertarian Mr. Bolsonaro really was, given that his track record contrasted with his campaign promises to let the markets loose.
“How long did it take you to become a libertarian?,” Mr. Kramer asked me in return.
Considering that my alma mater, the University of Brasília, is a left-leaning institution, I calculated that it took about five or six years for me to make the transition. “At least until my masters’ degree,” I answered. “Very well,” Mr. Kramer continued, “Jair Bolsonaro didn’t have that time. He has just done a crash course with [future Economy Minister Paulo] Guedes. It’s not nearly enough.”
This digression is to say that the debate around Mr. Bolsonaro is not about whether he is a libertarian. Indeed, one must understand the real possibilities a president has and the constant conflict between economic...
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