Argentina...has gone from South American breadbasket to world-class basket case. For the long version of how it happened and why Americans might not want to try it, hop on a flight to Buenos Aires. Here's a condensed version:
The constitution once held limited government and private property to be among the highest ideals of the land. But in the 1920s these protections, which had made the country a magnet for immigrants and the seventh-largest economy in the world, began to erode.
From nationalized health care and government-owned refineries to punishing taxes on the rich, Argentina has been there, done that. There are good reasons to find the resemblance disturbing.
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