Argentina has been in decline for decades. We shared on Right From Yaad an article from The Economist entitled “The Parable of Argentina” before. This week Jaana Woiceshyn shares with readers her experiences of her recent visit to that Statist state.
Find our link to the Economist’s piece here: https://rightfromyaad.wordpress.com/2014/02/14/government-the-parable-of-argentina/
My husband and I recently returned from a two-week trip to Argentina, a beautiful, geographically diverse country well worth visiting. But the trip was also an eye-opener to a life in a statist system where the government badly mismanages the economy—the current estimate of the annual inflation rate is 30 %—and the Argentinians suffer.
Argentina has had a statist social system since the Spanish colonial rule, but the current administration of President Cristina Kirchner seems to have learnt little from history, such as the hyperinflation of 1000% in the 1980s, the collapse of the Argentinian peso in 2001 and the foreign debt default of US$150 in 2002—the largest in history. Although Argentina’s economy has been relatively more stable in comparison during Kirchner’s rule since 2007, thanks mostly to the increase in commodity prices (Argentina is a big agricultural exporter), her staunchly statist government has made all the wrong moves and…
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