Different Language   
Same Human Nature       
      
   The country has two bitterly divided political parties. 

   It was among the wealthiest countries in the world. It may have had the world's highest gross domestic product (GDP) per capita. 

   In 1913 its per capita income was higher than France, twice that of Italy and almost five times that of Japan. 

   Today, money is greatly inflated. Government propaganda glorifies itself and portrays economic difficulties as "capitalist conspiracy." It views economics as a zero-sum game and blames the wealthy for any exploitation of the people.

   This is Argentina, which is blessed with good climate, productive farmland, vast mineral resources, a long coastline and capable citizens. What happened?

   WORLD magazine's review says Argentina is among countries that have broken three rules for avoiding poverty:

* Don't make slicing up pies more important than baking more.   
* Don't make politics more important than enterprise.
* Don't borrow more than you can pay back. 

   Stagnation resulted. Both parties used force - small revolutions around the turn of the 19th century, followed by coups in 1930, 1943, 1955, 1962, 1966 and 1976. These events created chronic instability, not general welfare. 

   In 1946, Col. Juan Peron became president. The government's share of GDP rose to 30 percent. Businesses were forced to "contribute" to politically-connected workers and the poor.

   Argentina nationalized companies and required producers to sell their commodities to the government at low prices. At first, there were lots of pesos to distribute for worker housing, pensions, vacations and social programs. 
 

Tomorrow: Part 2. When the money runs out

       Jimmy