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Week Seven
Some argue that the Chicago School ruined Latin American for generations, while others argue it saved it. With which position do you agree and why?
Spanish Colonies
1492 to 1800s
How did the colonial system work for as long as it did?
What finally changed?
15th to 19th century
Mercantilism
Exports
Quinto
Peninsulares
Political and military representatives of the crown
Peninsulares or CREOLE
Viceroys
Conquistadors & Well-Connected Spanish who were given a set # of Indigenous workers to have contorl over
Encomiendas
Indigenous & Mestizo workers
My theory:
Those who revolt, not so poor they must focus on their day-today and not so rich they are appreciative to the status Quo.
= The Second Richest
Creoles
Latin America's largest trading partner after 1850
Core
Periphery
Countries not keeping the profits on primary goods (e.g. 2/3 Honduras controlled by United Fruit Company)
Conservatives
Urban Middle Class (Govt Workers, Traders & Artisans)
Liberals
Laborers
(now being paid)
E.g. Mexican revolution
(1910 to 1911)
Porfirio Diaz
Urban Middle Class (Govt Workers, Traders & Artisans)
Laborers
(now being paid)
https://www.npr.org/sections/thesalt/2017/04/06/522071853/in-wwi-trenches-instant-coffee-gave-troops-a-much-needed-boost
Free competition between two nations
which are highly civilized can only be mutually beneficial in [the] case [that] both of them are in a nearly equal position of industrial development, and any nation which owing to misfortunes is behind others in industry, commerce, and navigation... must first of all strengthen her own individual powers, in order to
fit herself to enter into free competition with more advanced nations. - Friedrich List
Latin American Economies
It might have been a fairer fight between these elite groups, but the Great Depression decreased most demand in primary products from LA, allowing the pro-ISI leaders to become the main elites.
Needed new markets
Core
ISI disadvantages = high prices
and low quality for consumers
Periphery
Stagnant Global GRowth
End of Communist hold worlwide
Needed new markets
Elite
Core
Elite
IMF easy loans to keep these governments providing welfare, while opening up markets to global competition
Periphery
Prices
Employment
Back to Liberal basics:
With concerns about being "boxed out" of the final peace talks in syria, the U.S. Ambassador to the UN has Pushed to have the U.s. be a Key player in Peace talks & proposes four key provisions to be included in the future Syrian governments constitution:
Public Debt 70% of GDP
https://www.economist.com/news/leaders/21684779-disaster-looms-latin-americas-biggest-economy-brazils-fall
ISI produced not one automobile or tractor!