Análisis de la revista Ensayos Económicos entre 1977 y 1990. Una ventana a la transformación del pensamiento económico argentino.

Abstract

The crisis of the post-war Keynesian model in the 1970s gave rise to the advance of the Keynesian counterrevolution and produced a break in economic thinking on monetary policy and the role of the State in stability and development. This process led to the transformation of economic institutions, which adapted to the new trend. Aglietta (1996) explains these changes in the case of Central Banks: just as the Central Banking model was accepted by the financial market itself once the lessons of the economic crises of the late 19th and early 20th centuries were learned, the credibility crisis of the 1970s led to the formal establishment of the independence of Central Banks as a symbolic guarantee that restores their role as an impartial and external mediator of the interests that permeate society. In Argentina, the beginning of this transformation is usually dated to 1976 (Neffa, 1998), which saw the shift from an extensive industrialist mode of development with strong state intervention (ISI and a state-centric matrix) to a mode of production dominated by global financial flows, with a drastic reduction in state participation in the economy. This process went through several twists and turns until culminating in the economic emergency and state reform laws of 1989 and the Convertibility Law of 1991 (Rougier and Sember, 2018). The objective of this undergraduate thesis is to better understand this transition by analyzing economic positions in Argentina throughout this period: How were counterrevolutionary ideas incorporated into Argentine economic discussions? What was their relationship with preexisting Keynesian ideas? Can we identify elements from economic thought that anticipate and explain the transformation of the economy during this period?