Turning Good Economic Luck into Bad
It is often difficult to understand how countries that are dealt a pretty good economic hand can end up making a major mess of things. Two of the most extreme cases, Argentina and Venezuela, have benefited from high prices for their exports but have managed to avoid the highway to prosperity by turning onto a dead-end street.
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CAMBRIDGE, MA – It is often difficult to understand how countries that are dealt a pretty good economic hand can end up making a major mess of things. It is as if they were trying to commit suicide by jumping from the basement.