So I was reading this article in today's New York Times titled "Is Italy Too Italian?" about how Italy's ossified labor rules and lack of economic dynamism is pushing it into stagnation but not into crisis, and all I could think was how you could replace the words "Italy" and "Italian" with "Argentina" and "Argentine" and the story would be equally true, and then I came across this paragraph:
“Before World War II, Argentina was rich,” [Professor Giavazzi] says. “Even in 1960, the country was twice as rich as Italy.” Today, he says, you can compare the per capita income of Argentina to that of Romania. “Because it didn’t grow. A country could get rich in 1900 just by producing corn and meat, but that is not true today. But it took them 100 years to realize they were becoming poor. And that is what worries me about Italy. We’re not going to starve next week. We are just going to decline, slowly, slowly, and I’m not sure what will turn that around.”Ouch! Because it's so true...
8 comments:
When I read that article I couldn't help but think how sad it is that "growth" is so essential. We're losing so many wonderful trades in the process. I hope they're wrong about Italy. Don't know though.
ouch that is brutal. Argentina does feel like a south american italy. (which is great if you like pasta like me)
From 5 years ago, many italians wish get the promise land: Argentina.
Why?
Well, I was talking with some of the new italian migrators and they has the conviction about Argentina will develop a new economy, more potent and better than the actual economy in Italy. The new cafe bar MUSSETTA, is managged by 2 italian ladys...They have solded out all their things for the new business in Buenos Aires. Have good luck ladys ! My name is Ana. I am local. I am Porteña from Buenos Aires....
It goes so slowly, that you don't even notice and when you do, it's usually too late. The damage that has been done in 100 years can't be repaired in a year.
Interesting article! Actually by that time Argentina was more rich than Australia!
This is happening world wide. Canada and the USA are no exception. The process of sinking deep into poverty seems to be the new solution to instant crash or collapse. The wealthy bankers siphon everything off the people slowly through inflation, tax, interest, and "austerity", with the eventual goal being a small number of wealthy people, with the government in their pocket, and a whole nation of debt slaves doing all the work.
You'd better read a couple of book of Argentina's History before making fast judgements about the country. Until 1975 Argentina was doing well with her imports substitution strategy, but the oil shock first and the dictatorship and its foreign debt after destroyed 40 years of efforts. Not so fast, my friend.
I read the article as well. A big problem is that people as a whole are being selfish and not looking out for their country. We have lost touch with each other with so many businesses just being about numbers and not people. There is no planning for the future. Not enough investment in research and technology or even education. We need to pay dues now to reap rewards later.
Post a Comment