Institutional Revolutionary Party
The Institutional Revolutionary Party (, PRI) is a Mexican political party founded in 1929 that held uninterrupted power in the country for 71 years from 1929 to 2000, first as the National Revolutionary Party (, PNR), then as the Party of the Mexican Revolution (, PRM), and finally renaming itself as the Institutional Revolutionary Party in 1946.
Big tent
The Institutional Revolutionary Party (PRI) which held power in Mexico for 71 uninterrupted years from 1929 to 2000 was founded following the Mexican Revolution. Mexican president Plutarco Elías Calles founded the PRI, then known as the National Revolutionary Party, in 1929 with the intent of providing a political space in which all the surviving leaders and combatants of the Mexican Revolution could participate, and to solve the grave political crisis caused by the assassination of president-elect Álvaro Obregón in 1928. Throughout its nine-decade existence, the PRI has adopted a very wide array of ideologies (often determined by the President of the Republic in turn). It nationalized the petroleum industry in the 1940s and the banking industry in the 1970s. In the 1980s, the party went through reforms that shaped its current incarnation, with policies characterized as centre-right, such as the privatization of State-run companies, closer relations with the Catholic church, and embracing free-market capitalism and neoliberal policies.