CdnFox Posted September 8 Report Share Posted September 8 https://www.theglobeandmail.com/business/commentary/article-canada-argentina-economic-output/ Argentina’s economy looked a lot like Canada’s. It exported natural resources and food from vast and newly-opened farmlands, and it was industrializing thanks to a flood of foreign investment. Per person gross domestic product was neck and neck with Canada. Sir Wilfrid Laurier boasted that the 20th century would belong to us, but millions of immigrants and investors thought that it would belong to Canada’s southern twin, Argentina. And then, bit by bit, Argentina’s promising future slipped away. By the last third of the 20th century, it had performed a rare feat: it had gone backward, from one of the most developed countries to what the International Monetary Fund now classifies as a developing country. Argentina’s economic output is today far below Canada’s, and consequently the average Argentinian’s income is far below that of the average Canadian. Argentina was not flattened by a meteor or depopulated by a plague. It was not ground into rubble by warring armies. What happened to Argentina were bad choices, bad policies and bad government. It made no difference that these were often politically popular. This shows what bad gov't decisions about taxation, protectionism, interference in the market etc can do. We will be the next argentina if we aren't careful and don't make better decisions. Quote Link to comment Share on other sites More sharing options...
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