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This paper studies Argentina's economic growth trajectory between 1962 and 2019. To achieve this, we analyze the pattern of technological progress deduced from the dynamics of labor productivity and the output capital ratio. Between 1962 and the mid 1980s, technical change was Marx biased (for example, labor saving and capital consuming), which resulted in decreased profitability. From then and until 2008, technological change has been Hicks neutral with increased profitability. Afterward, profitability resumes the negative trend until the end of the analyzed period. The structural change observed since the middle 1970s is associated with a halving of the average rate of capital accumulation, greater macroeconomic volatility, and changes in development models. [ABSTRACT FROM AUTHOR]

Analyzing the articulation between the process of successful capital valorization and the tendency towards a devalorization of merchandise is applied to one of the manifestations of the Argentine crisis: the peso's devaluation. The paper studies the relationship between the determination of the exchange rate and capital valorization. It discusses the concrete trends of the Argentine economy in the 1990s, showing how the devaluation of 2001-2002 was the necessary product of the process of successful valorization itself during the previous period (1991-1998) and its crisis. [ABSTRACT FROM AUTHOR]