 He joined Catholic Action in 1938, and enrolled at the University of Buenos Aires, becoming President of the Students' Association.He graduated as an accountant in 1944, and earned a Doctor in Economic Sciences in 1948, teaching in the discipline as a professor from 1952 to 1984.Cafiero became a militant Peronist from the 17 October 1945 mass demonstrations in support of populist leader Juan Perón, and entered public service in 1952 as Minister of Foreign Trade in the latter's administration, serving until 1954.