Living standards have advanced virtually everywhere in the world. Countries that were rich at the beginning of the 20th century are now much richer and most of those that were poor, although they have grown at a slower pace, their progress is remarkable compared to their poverty levels 100 years ago. Within each group there are exceptions. There are some countries that are considered economic miracles because of their rapid transition from poverty to wealth, such as Korea, Japan, Singapore or Taiwan. These cases are more common. However, going in the opposite direction, there is only one notable case of a country that started out rich and ended up relatively poor. This is the great enigma for economists: Argentina. In fact, Simon Kuznets, 1971 Nobel Prize in Economics, famously said, "There are four types of economies in the world: developed, undeveloped Japan and Argentina." That is, for the Nobel laureate, the cases of Japan and Argentina were so particular that they had to be put in a separate category because they are not easy for economists to explain and understand.
Some sources of interest:
- Emilio Ocampo, 2021. "A Brief History of Hyperinflation in Argentina," Universidad del CEMA.
ideas.repec.or...
- Francisco J. Buera & Juan Pablo Nicolini, 2019. "The Monetary and Fiscal History of Argentina, 1960-2017," Federal Reserve Bank of Minneapolis.
doi.org/10.210...
*ERROR: The source is not Blanca Sanchez (2007). It is the following:
- Modolo, Vanina. (2016). Análisis histórico-demográfico de la inmigración en la Argentina del Centenario al Bicentenario. Papeles de Población.
www.scielo.org....
- Nicolás Rodriguez (2020). Quo vadis, Argentina?
www.batimes.co...
Music:
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