In the mid-1950s the three wealthiest nations in the Western Hemisphere were (in order) America, Canada, and Argentina.
Now, Argentina is among the poorest.
What happened in Argentina and is there any lesson to be learned? Looking at the Latin American nation may hold some lessons for America.
Juan Peron thumbed his nose at Argentina's political establishment and flouted standards. To only shove him away as an anti-establishment figure misses his true significance.
Peron cultivated a mass following that was impervious to his missteps, miscues, and misstatements — aka lies. What Peron believed — if he believed in anything other than big, splashy, self-displays — is unknown. Peronism was not a program or ideology. It was an attitude that fed off — and then reinforced — widespread anger and alienation.
Argentine anger, always around in certain blocks of Argentine voters, was genuine. By playing the role of outsider Peron endorsed that anger. The more egregious his conduct, the more he ensured his spot at the hub of the partisan circus.
No one in Argentina matched Peron's understanding of the implications of fame. Peron understood celebrity bestowed prestige which under-educated Argentines equated with authority. Credentials or capacities became an afterthought and Peron relied on his show business contacts by Evita to shore up the crowds. Buenos Aires became a performance arena for Juan and Evita, and plebiscites became glamorously enticing alternatives for elections.
Nationalism
Peron always pointed to a hazy "them" as the explanation for Argentina's difficulties. Peron's paranoia to keep “them” out traveled a tortuous route before Peron rejected admission into the General Agreement on Tariffs and Trades — the forerunner of the World Trade Organization.
Not happy with protectionist policies, Peron then turned his back on the International Monetary Fund at a time Argentine was perilously in need of a cash infusion.
Argentina's thirst for American-made capital goods skyrocketed, but Argentines had limited access. Peron had placed restrictions on the Central Bank's accessibility to hard currency and access to the American market was hindered.
Free Trade
When a leader starts to get excited over nationalism, the next to go is free trade. Peron interfered with free trade with it's largest trading partner, Britain, and the interference wiped out a major market segment.
From the 1920s until the 1940s, Britain was the biggest consumer of Argentine beef. Peron saw an answer to the nation's economic woes in a tariff that came to as much as 85%.
Britain took it's business elsewhere, and Argentina's beef exports never recovered and ceased to be an essential part of the Argentine economy.
None of this mattered to Peron. By pushing nationalism and working to eliminate free trade, had other plans. Since Peronism didn't require a party and still doesn't today, once Peron declared that he alone represented the popular will, Argentines found they traded the rule of law for caudillismo – a despotic rule.
"History repeats itself," is an adage.
Americans, at least those with some sense of perspective beyond its borders, are hoping a repeat doesn't indicate America is turning into Argentina.
There are some omens that it may be.
Peron, the South American strongman, was a master of collectivist campaign techniques. He fostered a personality cult, skillfully used mass media for political manipulation and made broad — and empty — promises at huge get-out-the-vote rallies.
Peron's biggest promise to the masses was to "Make Argentina Great Again."
The reality, though, as history shows, was different. Peron and his supporters ruined a once-great country. In the process they also wrecked the rule of law. Authoritarian regimes are not fond of their political powers being hemmed in by checks and balances, and the culture of corruption sprang into full bloom.
Peron stuck with the time-tested autocratic model where he and his Peronist party maintained the government and established a Soviet-style 5-year economic plans.
Peron had no problem with using state power to expropriate private property. Investors from Argentina, Britain and elsewhere found this out when Peron started nationalizing private businesses following the end of World War 2.
Peron was a protectionist and enhanced his political power by fanning xenophobic fears. Peron's under-educated and financially impotent followers bought the oft repeated lie that Bolivians were stealing their jobs.
Peron found a boost in organized labor and rose in status as he was fueled partly by cozy relationships with unsavory construction unions. Peron understood the unions could provide political muscle.
The ratio between promises made and promises fulfilled fueled the fantasies of a great president saving the day. "Elect me," said Peron. "I alone can save the TK of Argentina."
At the end, Peron couldn't beat the ultimate adversary — the Grim Reaper. But he tried.
After decades of toxic Peronist rule, Argentines wised up in November 2015 and chose a new, center-right president.
Maybe Americans won't take so long.
I am an American freelance writer and ghostwriter now living the expat life in Argentina. Never far from my coffee and Marlboros, I am always interested in discussing future work opportunities. Email me at jandrewnelson2@gmail.com and join the million-or-so who follow my life and work on Twitter @ Journey_America.
Thanks for being part of my wild and wonderful journey called life.