1. Real wages increased by 53 per cent between 1946 and 1948; for 1946–9 the rise was in the order of 60 per cent. These are figures of the first magnitude. As real GDP at factor prices increased only 19 per cent, the change in relative prices during 1946–9 was indeed dramatic. The most recent indepth study of the 1945–55 period concludes that, the top priority of economic policy — at times pursued regardless of any other consideration — was rapid change in the distribution of income towards workers, and then the consolidation of the new economic order under the new model. (p. 1, author’s translation): P. Gerchunoff, ‘Politica Económica Peronista, 1945–55’, in G. di Tella and R. Dornbusch (eds) The Political Economy of Argentina, 1946–1983 (Macmillan, forthcoming). J. Llach also emphasises the historical significance of the 1946–9 wage ‘hike’: the real wage he says, had hovered around the 1929 value for over seventeen years: J. Llach, ‘El Plan Pinedo de 1940, su significado histórico y los origenes de la economia del peronismo’, in Desarrollo Económico, no. 92, January—March, 1984, pp. 515–58, 551. In fact, the share of labour in income was to grow from 46 per cent in 1946 to 57–61 per cent in 1950; Republica Argentina, Producto e Ingreso en la Republica Argentina en el Periodo 1935–54 (Buenos Aires, 1955), Appendix, Table IV.
2. A. Ferrer, Crisis y Alternativas de la Politica Económica Argentina (Buenos Aires, 1977) p. 53.
3. J. A. Martinez de Hoz, La Agricultura y la Ganaderia Argentina en el Periodo 1930–1960 (Buenos Aires, 1967) pp. 11–12.
4. J. Villanueva, ‘La Depresión y la Segunda Guerra Mundial: Sus Effectos sobre el Desarrollo Económico Argentino’, unpublished paper at the Instituto Torcuato di Tella (Buenos Aires, 1973) p. 47.
5. G. di Tella and M. Zymelman, Las Etapas del Desarrollo Económico Argentino (Buenos Aires, 1967) pp. 141–2.