November 26, 2012 2:58PM 

# Paul Krugman’s ‘Remarkable Success Story’ in Latin America 

By [Juan Carlos Hidalgo](https://www.cato.org/people/juan-carlos-hidalgo) 

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Remember back in May when Paul Krugman described Argentina’s economic model in the last decade as a “[remarkable success story](http://krugman.blogs.nytimes.com/2012/05/03/down-argentina-way/)”?

Today *La Nación* of Buenos Aires [reports](http://www.lanacion.com.ar/1530339-la-argentina-el-peor-pais-de-la-region-en-inflacion-y-crecimiento) \[in Spanish\] that Argentina will have the worst record in terms of inflation and growth in South America in 2012. The Argentine economy will barely grow 1% this year and inflation will be above 20%, while the rest of the region enjoys healthy growth and low inflation rates.

Argentina is indeed a remarkable story. But not necessarily a successful one as Krugman pointed out.

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