If Argentina is your example it’s an example of a country that nationalised, became uneconomic and has struggled with inflation (inefficiencies) ever since. It’s the opposite of neoliberalism and proved big govt doesn’t work:
From 1945 to 1955 the country nationalised the central bank, railways and other strategic industries and services. Inflation first became a chronic problem during this period, averaging 26% annually from 1944 to 1974. The effects of nationalization led to stagnation.
The debt debt burden increased and inflation, reached 344% in 1983.
Record foreign debt interest payment, tax evasion and capital flight resulted in a balance of payments crisis that plagued Argentina with severe stagflation from 1975 to 1990, including a bout of hyperinflation in 1989 and 1990.
The economy eventual collapsed in 2001. By 2002, Argentina had defaulted on its debt. Its GDP had declined by nearly 20% in four years, unemployment reached 25%
The economy stabilised and doubled in size before crashing again in 2018 needing an IMF bailout with inflation at 54%. In 2023 inflation surpassed 100%.