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Peru The Velasco Government
The economic strategy of the Velasco government was
shaped by
a conception frequently advocated in Latin America but
rarely put
into practice. The idea was to find a "third way" between
capitalism and socialism, with a corporatist society much
more
inclusionary than that possible under capitalism but
without
rejecting private ownership or adopting any of the
compulsory
methods identified with communism. Under this strategy,
land
reform was designed to override existing property
interests in
order to establish cooperative ownership, rejecting both
individual private farming and state farms. Promoting
worker
participation in ownership and management was intended to
reshape
labor relations. Foreign influences were reduced through
tight
restrictions on foreign investment and nationalization of
some of
the largest foreign firms. On a more fundamental plane,
the
Velasco government saw its mission as one of eliminating
class
conflict and reconciling differences among interest groups
within
its own vision of a cooperative society.
Data as of September 1992
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