Argentina is considered one of Latin America’s most stable democracies. Unfortunately, it’s populace keeps electing inept and corrupt leaders. 

At the turn of the last century, Argentina was ranked as the third largest economy in the world – a plausible position for a country that is top 8 in terms of arable land,  has extensive gold, silver and copper deposits and, most relevant currently, contains the world’s third largest lithium reserves.  Additionally, Argentina has a relatively well-educated, homogeneous population and has never experienced any significant racial, religious or ethnic conflicts.  Argentina’s current problems, reflected in the 140% per year inflation rate, rapidly depreciating currency, consistently falling real GDP rates and a position as 94 out of 180 countries on the World Corruption Perception Index (CPI) (with 1 being least corrupt, note, Russia is ranked 127), can be squarely placed on the shoulders of poor governance.

Many link Argentina’s economic decline to the election of populist leader Juan Peron in 1946, who ushered in centralized government planning, extensive regulation, state intervention in many walks of life and limited opposition.   His wife, Evita Peron, remains an iconic figure in Argentina.