"Rich as an Argentine" That was a common epithat in Europe before WWI, a time when Agentina was viewed by the public, and by investors as a land of opportunity. Quote in Paul Krugman's Depression Economics.
Phrasing like that always scare me. It tells us that no economy is predestined for success. Failure is an option. You can get it wrong. You can go into a policy spiral that will lead to failure. I sound like a dismal economist; however, it is necessary to think in extreme scenarios in order to take these issues seriously.
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