Yeah this piece is top tier delusional, I’m thinking it had to be written by someone with heavy crypto libertarian leanings. Argentina’s poverty rate is currently ~57%. See https://www.thedialogue.org/analysis/will-argentinas-poverty...
well i guess you must be a Canadian desperate to move to Rwanda then...
Canada in 2023: 100.
Rwanda in 2023: 10.
Canada in 2024: 102.
Rwanda in 2024: 20.
Does it make sense now?
So, the whole problem is pretty obvious: you cannot save enough to invest. Banks are not interested in savings, they're interested in extraction of cheap labor and resources - which requires owning. Investment as well is only provided under bad rates, under such speculation.
And when it's not the locals owning anything, they remain poor and cannot save.
Economic growth is a wrong measure of wealth: one needs to look at who grows.