The term Third World is normally given to those nations that are poor or developing.
And, hopefully, it’s assumed that they will progress from developing to something better.
However, nations don’t always progress to something better but, frequently, regress into something much worse.
And it can happen quickly.
Consider Argentina which, in the early 20th century, was one of the wealthiest places on the planet but, in a few decades, through ever-increasing entitlement/welfare programs and the ensuing depletion of the country’s treasury, Argentina became an economic basket case.
Or, perhaps, Venezuela which, in 1929, was the world’s largest oil exporter and, in 2001, was the richest country on the continent, with more oil reserves than any country – including Saudi Arabia – but, in just 20 years, mismanagement and unrestrained public spending have placed the economy in freefall.
Is America heading in a similar direction by committing unforced errors to the detriment of our economy, which is still touted – for the moment – as the world’s most powerful?
For instance, is our refusal to use our own petroleum but, rather, purchasing oil from foreign sources – at ever-increasing prices – chancing the devaluation of our currency, a la Argentina, thereby adversely impacting our status as a world leader?
And is phasing out our usage of very dependable coal-fired and nuclear electricity generation systems in favor of unreliable wind and solar presaging the electrical blackouts typical of a third world nation like the present Venezuela?
Just remember, if we do what they did, we may get where they are.
Dick Pilling
Recent Comments