what happened to Argentina?

[amborin]

"A century ago, there were only seven countries in the world that were more prosperous than Argentina (Belgium, Switzerland, Britain and four former English colonies including the United States), according to Angus Maddison’s historic incomes database.

In 1909, per capita income in Argentina was 50 percent higher than in Italy, 180 percent higher than Japan, and almost five times higher than in neighboring Brazil. Over the course of the 20th century, Argentina’s relative standing in world incomes fell sharply. By 2000, Argentina’s income was less than half that of Italy or Japan. "

snip

<http://economix.blogs.nytimes.com/2009/10/06/what-happened-to-argentina/?scp=33&sq=inequality%20revolution&st=cse>

[BrklynLiberal]

1. Guess all those Nazis fleeing there, and Peron...didn't help much.

[RaleighNCDUer]

2. Peron, and a succession of fascists.

How has the US remained powerful and prosperous? Because even when the insane RW is in power, they don't haul away all the liberals who have all the good ideas and kill them.

Argentina could make a come-back - it has the resources. But the RW control for so long created a brain drain so now generations must pass for them to recover.

[philly_bob]

3. My guess: They killed their smart students cuz they were "communists"

and they bought into the Chicago School free-market school of economics.

[question everything]

4. The Depression could have affected it

and then rulers who just milked the country for what they could, smuggled their loot abroad and let the rest of the people fend for themselves.

[Hawkowl]

5. Mini US or Argentina is our future

Argentina's crony capitalism coupled with investment bubbles, loan defaults and currency collapse. Anybody see any parallels with our own situation?

[madrchsod]

6. internal corruption,military rule and then the IMF....

we are on the road to becoming argentina

[Quantess]

7. Yes, I have heard this warning from some others, that the US could go the way of Argentina.

I don't like the path the US has been on for the past several years...

[enid602]

8. Argentina

I´ve lived in Bs As, Argentina for 1 1/2 years. The government controls all prices and wages. Work stoppages occur on a daily basis. 40% of the population lives in and around the capital, which has very little industry. The capital survives on huge subsidies demanded of Argentina´s fabled agricultural sector. Over the long haul, less is being reinvested in the agricultural sector, and the prices of commodities are coming down, due to more efficient farming in neighboring Brazil and Uruguay.

But Argentinians survive, mostly because they overlook the huge shanty towns popping up everywhere, sick and dying dogs in the streets, and a nascent delinquent/drugs/robbery/murder problem that promise to rival NYC or LA at their heights.