By Guido Di Tella
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Additional info for Argentina under Perón, 1973–76: The Nation’s Experience with a Labour-based Government
As it turned out, few of the old leaders survived. A new generation emerged; they were equally identified with Peronism, but had not been appointed by Peron himself, and had gained their new positions as a consequence of their own efforts. The election of Frondizi came as a surprise, and was much against military expectations and wishes, a fact which tended to create an underlying instability. Although Frondizi was elected on a left-ofcentre programme and was able to count on the support of middle class and intellectual groups, once in power he made a complete about-face, pursuing instead a modern right-of-centre programme.
In the agricultural sector, this situation was barely compensated for by the reduction in export taxes on agricultural exports, while agricultural prices fell to some of the lowest levels of the decade. The situation was aggravated by the fall in the international price of meat. This lowered internal prices, and gave rise to a serious cattle crisis which finally turned the whole agricultural sector against the Government. In the short run, the cattle crisis and the low price of beef, so important in Argentina's diet, contributed to the anti-inflationary programme, as it helped to keep down nominal wages without depressing too much the level of wages.
It echoed the view that the country was 'at least three decades behind with respect to other nations, and catching up on the time which has been lost will require increased efforts in the immediate future .... ·Much has been done, but not at the pace required by the world in which we live' (Ciarfn, 14 Nov 1966). It is still open to question whether the Krieger Vasena programme could have continued with minor adjustments if political troubles had not appeared. A devaluation of the peso, an increase in beef prices in particular and a new round of inflation were inevitable.
Argentina under Perón, 1973–76: The Nation’s Experience with a Labour-based Government by Guido Di Tella