After These Elections, Don't Cry for Argentina

By Hakim, Peter | The Christian Science Monitor, October 28, 1999 | Go to article overview

After These Elections, Don't Cry for Argentina


Hakim, Peter, The Christian Science Monitor


Last Sunday's elections were strong evidence that democracy is taking root in Argentina. Most striking about the elections was how unremarkable they were. This in a country that had not in recent memory witnessed the transfer of power from one elected administration to another, until Raul Alfonsin turned the presidency over to Carlos Menem in 1989.

The elections were fully free and fair. Opposition candidate Fernando de la Rua, the mayor of Buenos Aires, won handily and will take office without protest or fanfare.

The majority of Argentines now agree on the political rules and share a common outlook on economic issues. This is good news for Argentina's future, though politically and economically there is much progress yet to be made.

The past decade produced Argentina's best economic performance since World War II. It has grown by about 5 percent a year since 1991, nearly double the average for the rest of Latin America. Out of 20 Latin American countries, only Chile did better. Inflation in Argentina has been the lowest in the region; this year it will be less than 1 percent.

These achievements did not come easily. They required the remaking of the Argentine economy, the revamping of policy, and the rehabilitation of the nation's financial institutions. During Mr. Menem's two terms (1989 to 1999), nearly every state-owned industry was privatized; barriers to imports and foreign investment were dismantled; and, for the first time in generations, discipline was imposed on government spending.

The cornerstone of this reform program was the so-called "convertibility" plan, which pegged the Argentine peso to the US dollar one-for-one, and allowed for the free exchange of the two currencies. Nothing was more crucial to the country's fight against inflation - or to building confidence among foreign investors, who provided the capital that fueled Argentina's economic expansion.

Despite these changes and the impressive gains they produced, not all is well with the Argentine economy. First, it is too vulnerable and volatile. In 1995, the Mexican peso collapse sent Argentina into a tailspin; this year it was the Brazilian currency crisis. Both provoked an economic contraction of some 3 percent.

Second, the nation's economy is not generating enough jobs. Unemployment has not fallen below 12 percent of the work force for the past half dozen years, and has been as high as 18 percent. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

After These Elections, Don't Cry for Argentina
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.