Yes, the demise began even before Peron. in 1900 Argentina was the 5th wealthiest country in the world. Today it ranks about 80 and racing to be another Zimbabue. Peron however, made the process irreversible. Once the bulk of the population became accustomed to socialized medicine and other "free" goodies it became impossible to wipe out. After the coup in 1955 the military found themselves with a nation in which they could not reverse the welfare state nor dismantle it lest it cause an open civil war. What they found instead was that in order to remain in power they had to initiate more programs to pacify the population.
If this is to be reversed we need to start taking back the cities. Conservatives need an urban strategy. The cities is where the elites reside and where the power lies.