Dan Mitchell on the tragic decline of Argentina. Nobody alive can recall when they were not in decline, but a century ago they were right up there. Buenos Aires is one of the great cities of the world and its decaying grandeur is a sad reminder of a bygone age.
Dan reports that Argentina is one of the worst governed countries in the world. The rot started in the 1930s and surprisingly as late as the 1940s Argentina was still one of the world’s richest nations.
- It is ranked #155 out of 159 nations by the Fraser Institute’s Economic Freedom of the World.
- It is next-to-last (ahead of only Venezuela) in IMD’s World Competitiveness Ranking.
- It is ranked #149 out of 180 nations by the Heritage Foundations Index of Economic Freedom.
Though the most damning indictment, in my humble opinion, is that Argentina in the late 1940s used to be one of the world’s 10-richest nations.
This time last year Dan was here for the Friedman Conference. We miss him!