1 5 ▁million ▁m ³ , ▁reducing ▁costs ▁by ▁a ▁third . ▁ ▁During ▁this ▁period ▁Argentina ' s ▁economy ▁continued ▁to ▁grow , ▁on ▁average , ▁but ▁more ▁slowly ▁than ▁the ▁world ▁as ▁a ▁whole ▁or ▁than ▁its ▁neighb ors , ▁Brazil ▁and ▁Chile . ▁A ▁suggested ▁cause ▁is ▁that ▁a ▁mult itude ▁of ▁frequently ▁changed ▁reg ulations , ▁at ▁times ▁extended ▁to ▁rid icul ous ▁specific s ▁( such ▁as ▁a ▁ 1 9 4 7 ▁dec ree ▁setting ▁prices ▁and ▁men us ▁for ▁restaur ants ), ▁ch oked ▁economic ▁activity . ▁The ▁long - term ▁effect ▁was ▁to ▁create ▁per vas ive ▁dis reg ard ▁for ▁the ▁law , ▁which ▁Argent ines ▁came ▁to ▁view ▁as ▁a ▁h ind rance ▁to ▁ear ning ▁a ▁living ▁rather ▁than ▁an ▁aid ▁to ▁enfor cing ▁legit imate ▁property ▁rights . ▁The ▁combination ▁of ▁industrial ▁protection ism , ▁red ist ribution ▁of ▁income ▁from ▁the ▁agr arian ▁to ▁the ▁industrial ▁sector , ▁and ▁growing ▁state ▁inter vention ▁in ▁the ▁economy ▁spark ed ▁an ▁infl ation ary ▁process . ▁By ▁ 1 9 5 0 , ▁Argentina ' s ▁G DP ▁per ▁cap ita ▁account ed ▁just ▁nearly ▁half ▁of ▁the ▁United ▁States . ▁ ▁Per ón ' s ▁second ▁Five - Year ▁Plan ▁in ▁ 1 9 5 2 ▁fav ored ▁increased ▁agricult ural ▁output ▁over ▁industrial ization , ▁but ▁industrial ▁growth ▁and ▁high ▁w ages ▁in ▁previous ▁years ▁had ▁expanded ▁the ▁domestic ▁demand ▁for ▁agr arian ▁goods . ▁During ▁the ▁ 1 9