At the beginning of the twentieth century, the country’s prosperity promoted and consolidated the conformation of a social elite known as the Oligarchy. Such was the power of the members of this land-owning elite that their influence had an important impact not only on economic and political affairs but also on social aspects of life, thus promoting a classy and distinguised lifestyle for these elite groups.
The aesthetics of the Oligarchy was dominated by the influence of architectural styles coming from the scholastic School of Fine Arts in Paris. This type of urbanization – known as eclectic or Parisian – had an important influence in the development of luxurious neighbourhoods in the City of Buenos Aires, where the elite groups had taken up residence. Such neighbourhoods include Recoleta, Retiro, Palermo, Barrio Norte, Belgrano and the classy suburbian places of San Isidro and Olivos. That is the reason why Buenos Aires City came to be known as the “South American Paris.”
This was a time of unprecedented economic growth in Argentinean history, and Argentineans had gained a reputation as spendthrifts. It was such wastefulness that led the Oligarchy to its downfall around the mid twentieth century.
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