Volume 43, Number 171,
October-December 2012
The Third Peronist Government’s Economic Plan.
Gelbard’s Term (1973-1974)
Cecilia Vitto
THE CONSEQUENCES OF THE POLICIES IMPLEMENTED.
HOW KEY ECONOMIC INDICATORS EVOLVED ( ...continuation )

It is also extremely relevant to evaluate what happened with functional distribution of income, as one of the key goals of the government’s political and economic project was to increase participation of salaried workers. In this framework, it is relevant that in 1973 and 1974, this participation increased, and came to represent practically 50% of income9 during this time period.

Regarding the industrial sector, the Triennial Plan established that activities with greater productivity would tend to increase relatively more during those years (National Executive Power, 1973: 40). Still, the evolution of the gross industrial product demonstrates that among the industrial sectors that grew most in 1973 and 1974 were those destined towards the production of non-durable consumer goods, with massive demand, like Textiles, clothing and leather and Food, drinks and tobacco, which are linked to the increased participation of salaried workers in income and increased consumption. By contrast, sectors such as Basic Metallic Industries or Chemical and Others grew well below the set of industry sectors.

In this context of strong development of the least capital intensive sectors, labor productivity in industry stayed practically constant during this period, because both the physical volume of industrial production as well as employed workers in the sector had similar increases (Table 3).



9 This process resulted in a decrease in the margins of business profitability, given the increase in salary costs above working productivity.

Published in Mexico, 2012-2017 © D.R. Universidad Nacional Autónoma de México (UNAM).
PROBLEMAS DEL DESARROLLO. REVISTA LATINOAMERICANA DE ECONOMÍA, Volume 48, Number 191, October-December 2017 is a quarterly publication by the Universidad Nacional Autónoma de México, Ciudad Universitaria, Coyoacán, CP 04510, México, D.F. by Instituto de Investigaciones Económicas, Circuito Mario de la Cueva, Ciudad Universitaria, Coyoacán,
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