There are far worse fates than those endured by the victims of neo-colonial exploitation. Countries that keep at bay the scheming capitalists that nationalists and leftists enjoy ranting about are far more likely to impoverish themselves than those that let them in and allow them to take over chunks of the economy. As many are currently reminding us, Argentina prospered mightily after she attached herself informally to the then all-powerful British Empire, but went into decline when Juan Domingo Perón adopted a hostile attitude towards its successor, the United States.
The late Carlos Escudé had it right when he argued that Perón’s unfortunate geopolitical mistake condemned Argentina to the many decades of decadence that reduced her to Third World status and which could still make her poorer than the neighbours she once looked down on. Despite sporadic efforts to repair the damage that was done to the economy by the Peronists in the years that fo
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