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In this paper an analysis of the relationships between the pattern of economic development and the nature of class interests in Argentina shows that changes in the balance of power follow closely the cycles of economic activity, of foreign trade and of inflation and deflation. An account of the insecure alliances between political forces, of their uncertain ideological orientations and of the low relative autonomy of the state is then combined with that analysis in an overall interpretation of Argentine politics from the emergence of Perón to the present.
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