I’m going to start learning Spanish next month.
Oy, good luck with that. One thing is to learn the language, it is another to learn it’s respective scholarly language. 0.o;
Can you still send me the information. I’m aware of the excessive amount of unbacked bills pumped into the economy. What I don’t understand is why?
Here’s a good English one that can help yah get started; http://www.questia.com/library/book/the-political-economy-of-argentina-power-and-class-since-1930-by-monica-peralta-ramos.jsp Other than that, I’m afraid the Spanish ones I know could be of little help though (Unless you get a Spanish speaker to translate it for yah, heehee). Luckily for you, I am from Guatemala, and Latinamerican economies is one of my prime interests (Much needed Austrian interpretation is needed there). I’ll give you a hand with the general picture.
It all started with Carlos Menem’s time when he assumed the presidency (1989-1999, two terms ). The prime thing that drove him to do what he did was the Washington Concensus. Of the good things that ocurred was that he succesfully stopped the hyperinflation that was close to destroying the economy in the late 80’s and liberalized and privatized a great deal of services formerly run by the government (airports, telephones, etc.) and dereguized lots of price controls. For the early 90’s, this insured Argentina’s path to prosperity and wealth, except for one tiny insy bitsy but critical detail that every Austrian loathes…
The Central Bank of Argentina! (TAN TAN TAAAAAAAAANNN!!!).
Basically, he and his Congress fixed the rate to be equal to the American Dollar, a huge big no no, since it also adopted the doomed path that doomed the USA in the 2000’s, a practice of pumping or withdrawing of cash circulation at random at somewhat random intervals (constantly adjusting itself to match the American dollar). By 2001, In light of these events, anyone who invested in anything lost trust in Argentina, and rapidly began to pull their cash from the banks. Because every bank in Argentina was linked more or less to the State of Argentina, this meant alarming loss for the government, and they in turn responded by effectively closing the entire banking system and withdrawing what cash was left in this banks, effectively destroying entire fortunes and savings of the Argentinian peoples. What was once a country well on it’s way to become great and rich, became a country with it’s circulation effectively paralyzed, sending hundred’s of thousands into miserable poverty, a situation they are still tolerating to this day.
I have to do a paper on Argentina’s history. From my limited knowledge of South American countries, I thought Argentina had a prosperous economy, my grandfather would always talk about how the Italians would immigrate there.
You thought correctly friend.
The early 90’s were booming years for Argentians. And yes, your grandfather is spot on in how many Italians started coming (again, heh) during those time periods (So many Italian names there as well, hehehe, just look at the footballers hailing from there
)
If you can forward me links that explain Argentina’s decline, I would very much appreciate it.
Alright, mind you that never been a fan of Google Search, since the real juicy stuff is found in reading good old fashioned books (both of the paper and e-book variety mind you, hehe). But here’s a couple legit stuff that might aid yah.
Here are a couple in English:
http://mises.org/freemarket_detail.aspx?control=392 (written by the Institute’s own Lew, hehe)
http://www.globalexchange.org/campaigns/wbimf/925.html
Here’s a couple Spanish ones just in case:
http://edant.clarin.com/diario/2001/04/15/e-00801.htm
http://edant.clarin.com/diario/2001/12/21/p-02615.htm
Hope this helps.