ARGENTINA: Wobbly Leader

Deep in trouble, Juan Perón fenced nervously last week with his own army and his own labor movement—and nothing less than his political survival appeared to be at stake.

At root, Perón's plight was of his own making. Argentina is feverish with economic ills: black markets, meatless days, a steaming inflation, unemployment. All these troubles are at least partly the effects of Perón's mismanaged scheme to industrialize the country at the expense of its grain farms and cattle ranches.

Along with economic crisis, government corruption has spread. A fortnight ago, while lecturing army brass on the "meat problem," Perón got a...

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