The scourge of Argentinian Peronism, a type of fascism, goes worldwide.
As a former Catholic who was raised by a mother who was a Peace and Justice minister for the Church, I had much hope for Francis. He took the name of my favorite saint, patron saint of animals, and given the dark period the Church has gone through in recent years my hope was for some light. And to be fair there has been some. But Francis’s understanding of economics, and particularly what makes the poor less poor, is abysmal and influenced by the politics of his homeland. A homeland which once was a prosperous country, more prosperous than the United States even, but since embracing statism has relegated itself to the third tier. At best.
Argentina should be rich. It should be powerful. It’s not because it followed the siren song of big government and economic “activism.” This is the world from which Pope Francis emerged. And this must always be kept in mind when considering his pronouncements.
(From International Liberty)
What’s the greatest economic tragedy in modern history?
The obvious answer is communism, which produced tens of millions of needless deaths and untold misery for ordinary people.
Just compare living standards in North Korea and South Korea, or Chile and Cuba.
But if there was a second-place prize for the world’s biggest economic failure, Argentina would be a strong contender.
Here’s one fact that tells you everything you need to know. In 1946, when Juan Perón came to power, Argentina was one of the 10-richest nations in the world. Economic policy certainly wasn’t perfect, but government wasn’t overly large are markets generally were allowed to function. Combined with an abundance of natural resources, that enabled considerable prosperity.
But Perón decided to conduct an experiment in statism.