After General Juan Domingo Perón was elected President of Argentina in 1946, he quickly moved to adopt a "New Deal" Plan for Argentina based upon economic nationalism and improved working conditions. The nationalization of the British-owned railroads was perhaps the centerpiece of his reformist policies. But fervent national pride and pageantry surrounding the purchase were quickly eroded by a painful realization: the Argentine railway system was a crumbling, antiquated colossus that drained vital resources and helped propel the nation and its people to financial ruin.
"A Railroad Debacle and Failed Economic Policies: Peron's Argentina,"
The Gettysburg Historical Journal: Vol. 4
, Article 6.
Available at: http://cupola.gettysburg.edu/ghj/vol4/iss1/6