Argentina can be rich without trying. Even with their corrupt and ridiculous Gov’ts over the last 60 years, there is still food and land and sun.
Their problem, which the USA is developing, is collectivism and central planning, with more power being drawn to the center.
The USA had diffuse power - gov’t was limited, and when Gov’t exercised power, the States and local Gov’ts had most power. That has changed. The US Federal Gov’t has gathered much more power to itself.
That in itself will cause corruption, inflation and decline, but when a “Peronist” like Obama takes over, it speeds up the process.
Remember it was Argentina that gave the world Che Guevara.