The Great Depression, caused by the international financial crisis, led to a fall in the price of primary goods - between 1928 and 1932, the prices of Argentina's main exports fell by 60%, and the volume of Argentine exports decreased by almost 12%. Thus, faced with the global crisis, the Argentine agro-export model was losing its viability in the medium and long term.
At that time, Argentina was one of the ten most developed economies in the world, and its achievements in developing the country had turned Argentina into the richest and most developed country in Latin America.
The main producers of agricultural exports in Argentina were large landowners, latifundists, who controlled gigantic land masses - farms with an area of over 1 thousand hectares owned no less than 80% of the land, and the 500 largest latifundists owned 30 million hectares! In total, of the approximately 1 million people employed in agriculture, about 650 thousand people were hired workers.
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