Buenos Aires
When God was creating Argentina, the story goes, the angels thought he was being unfair. “Lord,” they said, “you are giving this country fertile soil, rich mineral resources, a healthy climate, a wonderful port, oil and gas. These people will have everything, and they will rule the world.”
“Don’t worry,” God said. “It will all work out. Wait until you see the Argentines.”
There are no objective reasons this once-prosperous country shouldn’t be one of the richest places on earth. But for roughly the past 100 years, Argentina has been one of the most disappointing economic stories in the world. Measured by per capita gross domestic product, the country was one of the 10 richest countries in the world before the Great Depression. In 2022 it ranked 67th, according to International Monetary Fund data.