ABSTRACT
At the end of World War II Argentina had approximately the same GDP per capita as Canada. At present its GDP per capita is about one tenth of Canada’s, and Canada has not done that well during the last 57 years. Argentina went from first world to third world in half a century, despite having a highly educated population of Spanish, Italian, and German origins, a temperate climate, and an extremely rich endowment of natural resources. It should be prosperous, but it is desperately poor. How can such an awesome defeat be snatched from the jaws of victory?
