What happens when government meddles with private wealth.
Argentina is a constitutional republic with many historical similarities to the U.S. It has a rich immigrant heritage and an abundance of natural resources. But the U.S. is a rich, advanced country and Argentina is poor.
How did the breadbasket of South America fall so far behind? One explanation goes back some 90 years, when the Argentine Supreme Court began chipping away at property rights as a way of addressing economic inequality. Argentine politicians quickly learned that lawful plunder was their path to power.
This history is still being written, and the latest chapter ought to frighten Americans.
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