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Argentina is an interesting case. In 2001 it suffered an economic collapse and hasn't completely recovered since. All indications are that it is headed for another collapse.
According to the CIA Fact book, 97% of the population of Argentina is of Spanish or Italian descent. About the same percent of the population is Roman Catholic as well. Thus Argentina is much more ethnically homogenous
than the USA, yet it is a "low trust" society. That is to say, people don't have much trust for their society's institutions or in their neighbors. One hundred years ago Argentina was listed among the seven most prosperous
countries in the world, along with the UK and the USA. However, decades of redistributionist public policies changed that.
For a firsthand account of the 2001 economic collapse in Argentina and the resulting societal chaos, read "Surviving the Economic Collapse" by Fernando "Ferfal" Aguirre.
By Epictetus
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