Thursday, October 08, 2009

Argentina, then and now

Scenes from Buenos Aires, 1920:

The Leandro Alem business district

Florida Street

In 1900 Argentina had a per capita GDP that placed it almost exactly on par with Canada, ahead of Sweden and Norway and well in front of Japan and South Korea. By 2006 it was well behind all of them, roughly on par with Turkey and Panama and lagging neighbors Brazil.

Just a reminder that economic progress is not inevitable.

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