ABSTRACT
The revival of civilian democracy in Argentina is the latest response of that nation to a crisis that dates from at least 1930. Since then periods of growth have alternated with those of stagnation and retrogression and only one President has been freely elected and completed his term. As economic frustrations have intensified, administrations and even forms of government have followed one another with dizzying rapidity. The political disaster had profound economic consequences because the government had become an essential allocator of the national income. One dilemma for Argentina is a result of its economic dependence on agricultural exports. This is a puzzling development in a country where industry has been the leading sector for five decades. But agricultural exports remain crucial for industry, labor, and the government. Developments in Argentina did converge with those in Chile and Uruguay which were going through "monetarist" experiments.
