INDUSTRIAL CAPITAL AND ECONOMIC-DEVELOPMENT IN TURN-OF-THE-CENTURY ARGENTINA

Argentina's economic development at the turn of the century was based on the export of agricultural and pastoral products to western Europe. Although this model generated rapid growth-Argentina was the world's ninth-wealthiest nation in 1910-it failed to develop the institutions and social forces required for a successful adjustment to changing international circumstances beginning in the 1940s. I demonstrate the weakness of Argentina's apparently dynamic turn of the century economy through an examination of the country's industrial capital, which was subordinate to the economic circuits of agrarian rent, merchant's capital, and credit.