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The Impact of the Great Depression in Argentina

by Jamera Saintil

Wildlif Bayard

Ismanuella Denis

Stephenie Eliassin

Lukas Balsm

1. The type of government and major economic activities

( industries and trading) prior to 1929?

Before the 1920s, Argentina mostly had domesticated industries

Some of the industries were:

  • Food processing
  • Meat packaging
  • Flour milling
  • Leather tanning

Argentina’s exports included:

  • Wheat
  • Meat
  • Linseed
  • Corn

The wheat and meat industries were two of the main industries in Argentina

Linseed and corn were some other important industries during the 1920s however, the linseed market had crashed/collapsed during the 1930s causing Argentina to become less involved with its production.

Effects of the policies and economics on Argentina

  • Argentina was one of the most stable and conservative countries until the Great Depression, after which it turned into one of the most unstable.
  • Successive governments from the 1930s to the 1970s pursued a strategy of import substitution to achieve industrial self-sufficiency, but the government's encouragement of industrial growth diverted investment from agricultural production, which fell dramatically.
  • The Roca-Runciman Treaty of 1933 gave Argentina a quota of the British market for exports of its primary products, but the discriminatory British imperial tariffs and the effects of deflation in Britain actually led to a small decline of Argentine exports to Great Britain.
  • The government's encouragement of industrial growth diverted investment from agriculture, and agricultural production fell dramatically

President Hipolito Yrigoyen

Jose Felix Uriburu

Ramon Castillo

Policies

  • 1880-1929 economic recovery, Immigrants from europe.
  • They stopped exports of raw material; The imports of industrial products at end it helped the economic problems

was a democracy but with a system to cheat the people that allows the landowners to keep their land

1930 General José Félix Uriburu rebuild the same democracy as before.

1932 Agustín Pedro Justo won the voting

conservatives were saying that argentina were not ready for democracy and that the cheating in the voting were good. Because of that the thirtys are famous as década infame (infamous decade).

Because the trade collapsed in the crisis they made a Import substitution policy with the plan to be more interdependently from the economy. Even with this plan they made a pact with england. The Roca-Runicam-pact (1933) to get into the meat market and to get a interdependently national bank. (founder 1935 with English capital)

1938 Roberto María Ortiz were voted into presidency.

1942 Ortiz resigned because he was ill and Ramón Castillo became the next president. Ramon whitedrawn the attempt to be a democracy (citizens and military were against him). In World War 2 Ramon guided a neutral politic.

Political Leadership

  • Political Leadership of Argentina(1916-1943)
  • Hipolito Yrigoyen 1916-22, 1928-30 Marcello Torcuato de Alvear 1922-28 Jose Felix Uriburu 1930-32 Augustin Justo 1932-38 Jose Maria Ortiz 1938-42 Ramon Castillo 1942-43
  • Back Ground
  • This period (1916 to 1930) in Argentina is known as the Radical Phase.
  • Began with the election of the Radical Civic Union (UCR) candidate Hipólito Yrigoyen removing the long term conservative National Autonnous Party.
  • Yrigoyen's second term, (1928) lasted until 1930 when a combo of forces including the great depression lead to a military coup that would create a period of militarism and dictatorship that lasted until the 1980s.
  • The year 1930 started with the coup d'état
  • a violent overthrow of an existing government by a small group against President Hipólito Yrigoyen by José Félix Uriburu.
  • This decade was marked by many small rural landowners leaving their towns since they had been ruined by the Great Depression.
  • This in turn pushed the country towards import substitution industrialization
  • a trade and economic policy that advocates replacing foreign imports with domestic production.
  • The poor economic results of the policy led to another coup in 1943 (Revolution of '43)
  • Done by the Grupo de Oficiales Unidos , a nationalist faction of the Armed Forces, against acting president Ramón Castillo, which finally put an end to the Decade.

Detail 2

Sources

https://en.wikipedia.org/wiki/Economic_history_of_Argentina

http://www.slideshare.net/jerogers/argentina-and-the-great-depression

  • In response to the Great Depression, successive governments pursued a strategy designed to transform Argentina into a country self-sufficient in industry as well as agriculture

Class Structure

  • In the 1880s Argentina began a period of modernization that bought social changes that threatened the traditional landowning creole elites
  • Many people of the working class were relatively unphased as the depression had seemingly mild
  • Immigrants created new businesses that challenged traditional power base
  • The working class developed in terms of organizational strength and political importance
  • Then the entrepreneurial capitalist class was formed (industrial bourgeoisie)
  • Unemployment rates never went below 10%

Argentina's Government

The National Autonous Party (PAN) was replace by the Radical Party

Argentina beacme a full democracy with the election of the radical party lead by Hipolito Yiriogoyen in 1916

Argentina grew as a democratic country until it was 1930 where there was a military coup that occurred and kept Argentina in a period of dictatorship until the 1980s.

Argentina's industry was a largely domestic, which lead to limited foreign investiment until the 1920s

During the Great Depression, Argentina had to grow in industrial and domestic industries because the foreign market came to a standstill

Argentina had the strongest economy in South America with the annual growth of 6.3% an average between the years 1860 to 1930.

The citizens of Argentina wanted a government to focus on economic natIonalism rather than traditional economic system which focused on foreign trade

Argentina export's had been majority affected beacuse the greatly because they greatly depended on foreign trade

YRP

YPF (Yacimientos Petrolíferos Fiscales)

A state run oil company that competes against foreign interests.

This company would:

  • Source
  • Produce
  • Refine
  • And sell petroleum

The first YRP oil refinery was introduced in December 1925 in Ensenada, Buenos Aires, Argentina

First state-owned oil company created

Its significance

In May 1929, the YRP lowered the price of oil forcing other companies to do the same. This helped keep foreign gas prices competitive.

The Great Depression & Argentina

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