To the OP, I strongly recommend a book,
The Protestant Ethic and the Spirit of Capitalism, is from a german sociologist, Max Weber. Basically stands for a religious component from protestants that explains the spirit of the Capitalism, different from the catholics. Protestants developed some kind of ethic, linked to bussiness, that goes perfectly well with the new capitalist society, while the catholics stay in a more traditional one. That could explain why the protestants countries developed more than catholics.
http://en.wikipedia.org/wiki/The_Protestant_Ethic_and_the_Spirit_of_Capitalism
About the italians, it is said that the problem with the immigration in Argentina was, firstly, that the argentine consulates in europe in that time were looking for english and scandinavian and in stead brought spanish and italians, and then, that the ones that came werent educated. On the contrary, they were anarchists, socialists, troublemakers, agitators, with a very combative political spirit, lots of them deported, or had been in jail.
Also the majority of italian immigration went back to Italy, they were called "trabajadores golondrinas" they came here in harvest time, and with the 1890 crisis half of them went to south Brazil. Thats why Brazil had more italian immigration than Argentina (not in percentage), they have stolen lots from us!!
camebriu: I agree with Lamarque, we already talked about Chile and Argentina; although they have a very different socio-economic model, both Argentina and Chile have very similar social indicators. It has always been the south cone, Argentina, Chile and Uruguay, the most developed part of the continent, and it still is. Check out informal job numbers and compare to Peru, Colombia, etc.
About education, I dont guide myself from indicators but from the protests we have in these past years, (do you know Camila Vallejo?) Big protests, riots, thousand and thousand of people protesting noy one day or two, but years!!! Something must be wrong!!!
Lots of chileans come here to study, much more than argentines go to chile to study, so the educational university system is clearly better in Argentina.