The sad story of Argentina since the end of World War II is a timely reminder that rich nations, if badly managed, can become poor ones. Will Australia follow Argentina's path from riches to rags? Twenty years ago few Australians would have given the idea serious attention. But for 20 years Australians have accepted the case for economic restructuring, only to find it almost beyond them to make it happen. No other society has such a similar economic history with Australia; Australians can ill afford to ignore the lessons of the Argentine tragedy.