President Javier Milei used his address at the 172nd anniversary of the Bolsa de Comercio de Buenos Aires to lay out his economic philosophy, placing the defence of private property rights at the centre of Argentina's path to growth. Speaking before the assembled business community, Milei argued that sustained increases in per-capita productivity — and with it higher wages, improved living standards, and reductions in poverty and indigence — depend on the accumulation of capital, which in turn requires savings to be channelled into investment.

Milei described the role of the stock exchange as complementary to the banking system: both serve to direct savings toward productive investment. He framed this process through the lens of a balance sheet, with capital — the accumulated flow of investment — on the asset side, and savings, whether as debt or equity, on the financing side. Without secure property rights, he said, neither the incentive to save nor the incentive to invest can function properly.

The president announced that his government is sending Congress legislation to declare the inviolability and defence of property rights. He characterised this as essential not only in economic terms but as a "revelation mechanism," arguing that anyone opposing the measure reveals themselves to be an enemy of progress and a contributor to Argentina's historical decline. He directly attributed past violations of property rights to previous governments, saying they had effectively stolen from Argentines.

Milei also invoked Ludwig von Mises's work Socialism to argue that without private property, economic price calculation becomes impossible, removing the coordination mechanism that matches supply with demand and allows markets to adjust to imbalances. He said this theoretical point underpinned the failure of socialist economies.

Milei had originally prepared two possible addresses — one on capital market reform and changes to the central bank charter, the other on economic growth — and chose the latter at the suggestion of Bolsa president Adelmo, whom he consulted alongside his Chief of Cabinet before taking the podium.

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