Why Argentina’s Golden Days Faded, and Why It’s a Huge Bargain Today
by Doug Casey
International Man
Every country has traditions. And to understand the traditions, you have to have some grip of history. A country’s history goes a long way toward explaining what it is, and where it’s going. Because of its size, geography, and large European population, Argentina might have evolved the way the U.S. did. And it comes closer than any other country in Latin America. But there were critical differences.
In what was to become the U.S., colonies were founded by independent citizens. Many of them, although religious fanatics, were of an anti-authoritarian bent. This was abetted by England’s Common Law tradition, which transplanted nicely to America. In Argentina, on the other hand, every city was founded by the Crown; the Church and the State were held in high regard from the first. This resulted, predictably I’d say, in stunted economic and social progress.
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