From: Lee Corbin (lcorbin@tsoft.com)
Date: Sun Jan 12 2003 - 21:11:02 MST
In 1900, Argentina was the 6th wealthiest country in the world.
What happened?
Does anyone know of a book that chronicles all the bad moves
made by that nation?
Yes, it's usually best to focus on wealth creation, and to regard
poverty as mankind's default state. But the rapid decline of a
once-mighty economic power must contain valuable lessons.
The latest mistake was apparently taking the peso off the
dollar, which instantly cheated thousands of deep pockets
out of 3/4 their wealth. And, more importantly, sent the
message that capital that wished to survive had better
flee the country.
I heard also that the government had agreed to pick up
the bill for any cosmetic surgery desired by a citizen.
This is starting to sound like a case where the usual
damage inflicted on an economy by socialist tendencies
turned out to be too much, and killed it off. In other
words, the government spent itself to death. And had
to start printing pesos?
Lee
This archive was generated by hypermail 2.1.5 : Wed Jan 15 2003 - 17:35:51 MST