ABSTRACT
The distributionist development model had given considerable impulse to the accumulation of capital in the immediate post-war period. The great agrarian bourgeoisie attempted to reimplement the limited industrial development model applied during the 1930s and thus sought to recover the economic hegemony it had lost during the Peronista period. Contrary to the distributionist model, increased consumption of the popular sectors was not a variable of decisive importance for the development of capital accumulation. The new model of industrial development generated an increasingly heterogeneous labor market and a gradual stratification of the working class. The prevailing model of industrial development therefore gave rise to a paradox: Expansion of industrial output issued in a crisis of the foreign sector and, hence, a recession. Long-term development, with monetary stability, was to be based "on the principle of the transfer of human and economic resources from activities of low productivity to those of high productivity."
