Why are Argentinians so accepting of corruption ?

[perry]

1st: noting that the historical thesis that Argentina was some sort of exceptionally rich and prosperous country in the 1930s is wrong is different from saying that Argentina did well in 2003-2015
2nd: I'm not saying it, the objective measures are saying it.

I lived through this period and it was really an incredible boom from 2004 to 2011. I believe the economy grew close to 10 percent per year and in Palermo Soho the mood was one of optimism and hope. It was a rebirth of many abandoned neighbourhoods and many people got rich quickly . I hope it gets a rebirth again as Buenos Aires so deserves it .

 

[Weyland]

By every objective measure, Argentina's economy grew and standards of living rose during the latest 'populist' period than any other in its history.

GDP per capita: $2295 in 2002 to $13783 in 2015
Raw GDP: 97 billion to 594 billion
Poverty: down by 28%
Human Development Index (living standards): 0.769 to 0.820
Under Nestor Kirchner, Argentina had no negative deficit for the first time modern history, from 2003 to 2010. No other government has done this.

Ventanilla,

Why was there such economic success from 2003 to 2012? Why did the economy take a dive after 2012 under what was similar policies continued by the Ks? Why was there a fiscal surplus in the 03, 04, 05, etc and a massive deficit in 13, 14, 15? Why did reserves decline ever since 2011 to now?

 

[on the brink]

Ventanilla,

Why was there such economic success from 2003 to 2012? Why did the economy take a dive after 2012 under what was similar policies continued by the Ks? Why was there a fiscal surplus in the 03, 04, 05, etc and a massive deficit in 13, 14, 15? Why did reserves decline ever since 2011 to now?

As I understand, during the earlier years the price of soybenas was at an all-time high, and Argentina had record crops.

 

[Weyland]

As I understand, during the earlier years the price of soybenas was at an all-time high, and Argentina had record crops.

Right. Add in that wages were extremely low due to the devaluation, including those in the public sector. Unless you look at statistics within a context, they don't really mean anything.

I could argue (which, I don't believe) that Menem was a great president look at how he brought GDP from $76B to $284B over his term.

 

[perry]

Right. Add in that wages were extremely low due to the devaluation, including those in the public sector. Unless you look at statistics within a context, they don't really mean anything.

I could argue (which, I don't believe) that Menem was a great president look at how he brought GDP from $76B to $284B over his term.

Wages in real dollar terms were much higher from 2004 to 2011 . Wages in 2019 are at historic lows with the minimum wage less than Us $ 280 per month

 

[Weyland]

The minimum wage in dollar terms was $119 per month in January 2004.

 

[perry]

The minimum wage in dollar terms was $119 per month in January 2004.

And by 2010 it was triple that at close to US 400 per month and prices in dollars for all essential items were less than half of today .

By 2011 Argentinas minimum wage was over US 600 per month and the highest in Latin America . Please read the link below .

El salario mínimo en la Argentina, entre los más altos de la región

• DESDE ENERO SE UBICA EN $ 1.840.• CONTRACARA: SERÍA LA CAUSA DEL ELEVADO EMPLEO EN NEGRO

www.ambito.com

 

[Weyland]

And by 2010 it was triple that at close to US 400 per month and prices in dollars for all essential items were less than half of today .

True

 

[perry]

I am amazed how people forget so easily how people lived under Christina . Wages in real dollar terms were more than double and prices were less than double . It is not surprising that she got reelected when you consider how middle class families live today .

 

[Weyland]

I think few argue that the economy wasn't good for the majority of the time under the K rule. The question is why was it good? Did it have to do with specific policies that now when they are reimplemented with again lead to growth? Was it because of the global economic conditions of the time?

If you run a regression analysis of Argentina GDP vs the price of soy over the last 20 years you are going to get a highly significant r2.