Oh, I'll Cry Alright

Argentina was at one point one of the wealthiest countries on the planet (late 19th and early 20th Centuries). It had a per capita GDP higher than Austria and Italy, four times as high as Japan, and nearly as high as the United States. So, what in the hell happened to it? Uh, try socialism and protectionism......................................................................................Yeah, that right, folks, starting in the '40s and continuing throughout the rest of the 20th Century, the Argentine government (initially under the auspices of Nazi sympathizer and protector of Nazi war-criminals strong-armed thug, Juan Peron) proceeded to a) close off the Argentinian economy to international commerce, b) nationalize numerous public services, c) engage in a hyperinflationary monetary policy (the printing of money to pay off its monstrous public debt eventually resulting in a 3,000% inflation rate) and d) establish state control (either directly or through massive government regulations) of most economic activities...........................................................................................Not surprisingly, the results of this madness were dozens of other countries proceeding to leap-frog Argentina (Japan in 1960, South Korea in 1980) and the country continuing to be an economic basket-case today. One can only hope here that the leaders of this once prosperous country will eventually see the errors of their ways and not have to fritter away another 70-80 years (maybe look to Singapore, Estonia, countries like that).