'By 2000, Argentina’s income was less than half that of Italy or Japan'
'What happened to Argentina?,' NY Times
"A century ago, there were only seven countries in the world that were more prosperous than Argentina," a post written by Edward Glaeser for Economix NYT blog starts.
It goes on explaining that "Peronism was not only protectionist, but it also favored large state enterprises and significant regulation of the economy. Neither strategy has been particularly good for growth. Argentina's inbred banking system has historically had trouble weathering severe shocks. Decades of political instability have made property rights insecure and investment unattractive."
It adds "Argentina was cursed with bad policies that bear much of the blame for the country's problems."
- Many swine flu deaths linked with second infection
- Boudou, Redrado tackle IMF officials
- Public services' consumption gains 7% in August
- Liaison Board meets with new agriculture minister starts
- Construction drops 3.2% in August
- Earthquake hits Indonesia, between 100 and 200 killed
- Metrovías denounces subway wagon fire was 'intentional'
- Vintage Favre leads Vikings to victory over Packers
- 'We need to stop organizing ourselves in a way that limits others' rights,' CFK
- CGT helm to meet Kraft union leaders today
Director Orlando Vignatti - Esta publicación es propiedad de NEFIR S.A. - Tel: 4349-1500 - Paseo Colón 1196
3| DAVID HALEVY - 07/10/2009
2| DAVID HALEVY - 07/10/2009
1| DAVID HALEVY - 07/10/2009
Don't you really mean 'bad leadership ' , vertically as well as horizontally ? The policies that didn't result in long-term prosperity, institutional strength, individual safety and dignity, were the outgrowth of awful national leadership and a national propensity to bow to authority in place of individual responsibility. As far as the banks are concerned, they have shown their ability to withstand the plethora of brutal fiscal and monetary policies and survive in better condition than many of their north american counterparts. Argentine businesses continue to demonstrate their well-tested acumen, no matter the economic circumstances. If the present government were to effect a positive attitude towards the expansion of quality representation on the Buenos Aires Stock Exchange, Argentinians would more easily benefit from the eventual move upwards in the global economy. Argentina is a powerful economic engine that could pull pull many countries in this region if the government would encourage unassailable pro-growth policies, both in the export market as well as , in the domestic market.