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.
Institutional Revolutionary Party
Economic nationalist and protectionist policies implemented in the 1930s effectively closed off Mexico to foreign trade and speculation, so that the economy was fueled primarily by state investment and businesses were heavily reliant on government contracts. As a result of these policies, Mexico's capitalist impulses were channeled into massive industrial development and social welfare programs, which helped to urbanize the mostly-agrarian country, funded generous welfare subsidies for the working class, and fueled considerable advances in communication and transportation infrastructure. This period of commercial growth created a significant urban middle class of white-collar bureaucrats and office workers, and allowed high-ranking PRI officials to graft large personal fortunes through their control over state-funded programs. State monopoly over key industries like electricity and telecommunication allowed a small clique of businessmen to dominate their sectors of the economy by supplying government-owned companies with goods and commodities.