The economy of Latin American countries such as Argentina have often focused on only one main product at a time and imported many of the other products needed. Argentina especially followed this economic strategy in the late 1800’s. Latin American countries focus on one product it does well and does not stray from that product. The countries were just following trends and taking advantage of what the market dictates is a worthwhile product. This strategy can fall short of having long-term success and lead to a land of poverty. This was the case in most every country in Latin America, and all the economy revolved around the growth of industry in each country. Technology, increased immigration, European influence, and political policy all influenced the economic state of Latin American countries and led to economic struggles.
The main products that drive the economy of Latin American in the nineteenth century require products and resources that are easily available to the countries of the area. For Argentina, the country focuses on exporting temperate agricultural products (Furtado 131). The workers needed in the fields, and vast amount of land to grow crops is plentiful. The land is already available, but to become more equipped to excel in agriculture, the country needs an influx of able- bodied workers.
Many factors contributed to Argentina’s inability to accomplish trading on par with the United States and European countries. Argentina focused only on agriculture and thus ignored other burgeoning industries advancing in the late 1800’s. The Argentinian elite were more content to reform old ways than to totally overhaul the way their country did business (Wood, Chasteen 140).Their contact with Europe and the United States ga...
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...ad a general feeling of apathy towards the country as a whole. European influence guided Latin America in many decisions throughout the nineteenth century. Not all instances of European culture were beneficial for Latin America to follow.
The Latin American economic model prevented much change in the countries that it affected. While the model allowed countries such as Argentina to succeed for a time, the long-term results are unsatisfactory. With all of these factors considered, it is not surprising that Latin America is stricken with poverty and inequality.
Works Cited
Henderson, T. "Modern Latin American History Lecture." Auburn University Montgomery, Montgomery, AL. Sept. 2011. Lecture.
Wood, James A., and John Charles Chasteen. Problems in Modern Latin American History: Sources and Interpretations. 3rd ed. Lanham, MD: Rowman & Littlefield, 2009. Print.
Models for post-revolutionary Latin American government are born of the complex economic and social realities of 17th and 18th century Europe. From the momentum of the Enlightenment came major political rebellions of the elite class against entrenched national monarchies and systems of power. Within this time period of elitist revolt and intensive political restructuring, the fundamental basis for both liberal and conservative ideology was driven deep into Latin American soil. However, as neither ideology sought to fulfill or even recognize the needs or rights of mestizo people under government rule, the initial liberal doctrine pervading Latin American nations perpetuated racism and economic exploitation, and paved the way for all-consuming, cultural wars in the centuries to come.
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... a great contrast to the most apparent feature of the Western Society. The Westerners created new political ideologies never seen before, resulting in neither an absolute or dictatorial structure. The Catholic Church still remained an intricate part of the Latin American life and continued to provide a key cultural adhesive throughout the Latin civilization, as the Western Societies role of religion lost popularity. The loss of interest in the church was partly because of the rising popularity nationalism and socialism provided as competition for the church. Lastly, The Latin American economy depended mainly on their agriculture and consisted of each country developing a cash crop or mineral specialty, while industrialization left an immense imprint on the shape of society in Western nations, by creating new specialty professions which required extensive training.
Galeano, Eduardo. Open Veins of Latin America: Five Centuries of the Pillage of a Continent. Translated by Cedric Belfrage. New York: Monthly Review Press, 1997.
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I this paper I am going to compare impacts of liberalization between two countries: Poland and Argentina. Let me first start with Argentina will compare the background, policies and consequences of both the countries. In Poland we say “Don’t praise the day before sunset.” By the early twentieth century Argentina was seventh wealthiest country. According to Jurnal of Latin America Studies “At this time, when the nation boasted one of the highest rates of growth of per capita income, no-one would have dared to question its growth potential. Indeed Argentina’s economic evolution during that period could be compared with that of Australia and Canada.” Today, the country is bankrupt on a scale unprecedented in history. Liberal economy, worshiped there until recently as holiness , bothering recession . Argentina was once the richest countries in the world . Now it is spreading appalling poverty . The unemployment rate in 1991 of 6.5 % has more than tripled .
Mignolo, W. D. (2005). The Idea of Latin America (pp. 1-94). Malden, MA: Blackwell Publishing.
Europeans arrived in Argentina in 1502. Spain established a permanent colony on Buenos Aires in 1580. Later on Argentina will become independent, but it will not come until July 9, 1816. From 1880 to 1930s Argentina was one of the top 10 wealthiest nations based on their agriculture. It wasn’t until 1986 that Argentina became a democracy, before that it was under military regime. During 1998 and 2002 Argentina had a major economic downfall. This is known as the Argentinean great depression. There were a couple of reasons: During the military regime the country went into debt for not finishing projects. Also, after democracy came back the new president try to stabilize the economy by creating a new currency, thus the country needed loans for this to happen. The debt eventually rose and the country had lost the confidence of the lenders.
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Scholars have debated not only the nature of Iberian colonialism, but also the impact that independence had on the people of Latin America. Historian Jaime E. Rodriguez said that, “The emancipation of [Latin America] did not merely consist of separation from the mother country, as in the case of the United States. It also destroyed a vast and responsive social, political, and economic system that functioned well despite many imperfections.” I believe that when independence emerged in Latin America, it was a positive force. However, as time progressed, it indeed does cause conflict.
Prebisch, formerly the head of the Central Bank of Argentina, saw the world as two distinct areas: a center of economic power in Europe and the United States and a periphery of weaker countries in Latin America, Africa, and Asia. Prebisch concluded that Latin America’s underdevelopment was because of its importance on primary exports. The periphery was underdeveloped because it needed to create more sustenance and raw materials for export in order to import a specific amount of industrial imports. Andre Gunder Frank expressed that external monopoly resulted in the foreign expropriation, and thus local unavailability, of a significant part of the actual economic surplus produced in Latin America. Therefore, the region was actively underdeveloped by not generating at its potential and losing its surplus to Europe and North America. Peripheral countries were kept from accomplishing development because they sold their products at prices below their value, while rich countries sold products at prices above their value (Peet and Hartwick pp. 188 -199). Thus, in contrast to modernization theory, which emphasized the benefits of free trade, foreign investment, and foreign aid, these theorists argued that free trade and international market