Tuesday, May 3, 2011

Wealth Gap in Argentina

Argentina carries an attitude similar to that of Frances' manifesto "liberty, equality, and fraternity."  They want to avoid the individualistic societies that countries like the United States, Brazil, Chile, and Peru, share around them.  This has changed, though, over the past decade because of the rising wealth gap between the rich and poor.  In the mid 1990's, the richest 10 percent of Argentina's population had an income 18 times that of the poorest 10 percent of the population.  When the crisis peaked in 2002, the richest income was 43 times the income of the poorest.  This is the worst economic crisis in modern history.  The crisis has improved, but the wealth gap is still so spread.  The poverty issue has improved, but the wealth gap between rich and poor is spreading.  The economy in Argentina is growing faster than any other country in South America, and is growing 8 percent per year.  This growth is tremendous, and the poverty rate is going down, but the wealth gap is still in a detrimental state.

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