▁II ▁and ▁remained ▁sl ugg ish . ▁ ▁Rel ative ▁lag ▁ ▁First ▁Per on ist ▁period : ▁National ization ▁ ▁After ▁the ▁ 1 9 4 3 ▁Argent ine ▁coup ▁d ' état , ▁Juan ▁Per ón , ▁a ▁member ▁of ▁the ▁United ▁Offic ers ▁Group ▁that ▁engine ered ▁the ▁plot , ▁became ▁Minister ▁of ▁Labor . ▁Camp aign ing ▁among ▁workers ▁with ▁promises ▁of ▁land , ▁higher ▁w ages , ▁and ▁social ▁security , ▁he ▁won ▁a ▁decis ive ▁victory ▁in ▁the ▁ 1 9 4 6 ▁president ial ▁elections . ▁Under ▁Per ón , ▁the ▁number ▁of ▁union ized ▁workers ▁expanded ▁as ▁he ▁helped ▁to ▁establish ▁the ▁powerful ▁General ▁Confeder ation ▁of ▁Labor . ▁Per ón ▁turned ▁Argentina ▁into ▁a ▁corpor at ist ▁country ▁in ▁which ▁powerful ▁organized ▁interest ▁groups ▁negoti ated ▁for ▁positions ▁and ▁resources . ▁During ▁these ▁years , ▁Argentina ▁developed ▁the ▁largest ▁middle ▁class ▁on ▁the ▁South ▁American ▁continent . ▁ ▁Early ▁Per on ism ▁was ▁a ▁period ▁of ▁macro e conom ic ▁shock s ▁during ▁which ▁a ▁strategy ▁of ▁import ▁substitution ▁industrial ization ▁was ▁put ▁into ▁practice . ▁Bil ater al ▁trade , ▁exchange ▁control ▁and ▁multiple ▁exchange ▁rates ▁were ▁its ▁most ▁important ▁characteristics . ▁Begin ning ▁in ▁ 1 9 4 7 , ▁Per ón ▁took ▁a ▁left ward ▁shift ▁after ▁breaking ▁up ▁with ▁the ▁" C atholic ▁national ism " ▁movement , ▁which ▁led ▁to ▁grad ual ▁state ▁control ▁of ▁the ▁economy , ▁reflected ▁in ▁the ▁increase ▁in ▁state - owned ▁property , ▁inter