4 ms·

Sometimes you're Argentina, sometimes you are Spain. [1] Same people, same starting point, different outcomes. [1] https://countryeconomy.com/countries/compare

by screye 3y ago

Sometimes you're Argentina, sometimes you are Spain. [1] Same people, same starting point, different outcomes. [1] https://countryeconomy.com/countries/compare/argentina/spain?sector=GDP+per+capita+%28Dollars%29&sc=XE34#tbl https://countryeconomy.com/countries/compare/argentina/spain... Have to wait and see. Only time will tell.

kaycey2022 3y ago
Even if India reaches Argentina’s per capita GDP in today’s terms, it will be a massive, world changing development.
weekendvampire 3y ago
This is fascinating. Any particular reasons for the disparity?
- sremani 3y ago
  Spain benefits from being part of EU, Argentina does not have a "support system" like that and sanctified practice of bankruptcy. In the long run, Argentina will beat Spain but that requires them getting their shit together, which is a big if.
- deleted 3y ago
  [deleted]
- screye 3y ago
  There is a joke in economics. > Simon Kuznets, the winner of the 1971 Nobel Prize in Economics, famously stated there were four types of economies in the world: developed, undeveloped, Japan and Argentina
- mardifoufs 3y ago
  Mostly the EU. Almost every other reason is at best rationalization in comparison. The same goes for Poland. though people from those countries don't necessarily like to admit that the reason they are richer than their peers (in this case, Argentina) is mostly due to geographical luck. But Argentina also has a peculiar, almost hard to believe tendency to shoot itself in the foot economically
  - alephnerd 3y ago
    Argentina had a lack of Institutional Capacity due to a very volatile political culture compared to Chile or even Brazil. Daron Acemolgu's career making paper "The Role of Institutions in Growth and Development" [0] touches on this exact dichotomy. [0] - https://rei.unipg.it/rei/article/view/14 https://rei.unipg.it/rei/article/view/14
  - civilitty 3y ago
    Geography is destiny.

by screye 3y ago

kaycey2022 3y ago

Even if India reaches Argentina’s per capita GDP in today’s terms, it will be a massive, world changing development.

weekendvampire 3y ago

This is fascinating. Any particular reasons for the disparity?

sremani 3y ago
Spain benefits from being part of EU, Argentina does not have a "support system" like that and sanctified practice of bankruptcy. In the long run, Argentina will beat Spain but that requires them getting their shit together, which is a big if.
deleted 3y ago
[deleted]
screye 3y ago
There is a joke in economics. > Simon Kuznets, the winner of the 1971 Nobel Prize in Economics, famously stated there were four types of economies in the world: developed, undeveloped, Japan and Argentina
mardifoufs 3y ago
Mostly the EU. Almost every other reason is at best rationalization in comparison. The same goes for Poland. though people from those countries don't necessarily like to admit that the reason they are richer than their peers (in this case, Argentina) is mostly due to geographical luck. But Argentina also has a peculiar, almost hard to believe tendency to shoot itself in the foot economically
- alephnerd 3y ago
  Argentina had a lack of Institutional Capacity due to a very volatile political culture compared to Chile or even Brazil. Daron Acemolgu's career making paper "The Role of Institutions in Growth and Development" [0] touches on this exact dichotomy. [0] - https://rei.unipg.it/rei/article/view/14 https://rei.unipg.it/rei/article/view/14
- civilitty 3y ago
  Geography is destiny.