You know, this idea that a country can and should develop by doing the picking winners behind high tariff barriers thing? As recommended by Christian Aid, War on Want, Action Aid, the Green Party, the BNP and just about every other fuckwit known to man?
Sure worked well for Argentina, didn\’t it?
From 1890 to 1939, the country\’s per capita income was similar to that of France, Germany and Canada, but then President Juan Perón took over and instituted a suite of progressive reforms: increased unionization, nationalization of major industries, more generous social welfare, increased public works investments, high tariffs and import restrictions. The big idea then was called developmentism, which is a national-socialist-fascist model that attempts to ameliorate the deficiencies of \’the market\’. The result you can see below, as their income relative to other countries steadily declined from about 1946 onward (the center of the graph is 1946ish).
Progressive economics, doncha just love it?