During the second wave, Argentina entered into rapid cycles of alternating authoritarian and competitive regimes. From 1946 to 1951, 1958 to 1962, 1963 to 1966, and 1973 to 1976, the county had four short-lived competitive periods, leading to successively more repressive dictatorships. After 1943, the authoritarian regimes were also short-loved. What explains why competitive regimes were not able to last despite Argentina’s moderately high level of development and moderately low inequality?