Economic Changes in Latin America essays

Economic Changes in Latin America essays The Dictators and Oligarchy governments focused on economic growth by maintaining law and order through foreign investment, free trade, and land confiscation. (text 143) The economies of Latin America relied mostly on agricultural exports and mining. As free trade policies spread, the efforts to create their industries were abandoned as they could buy manufactured goods from Europe and the United States. Loans from foreign countries started to flow into Latin America to fund the building of railroads, bridges, roads, banks and other public buildings. Throughout this economic boom, the indigenous and mestizo people of Latin America were driven out of their villages by the landowners who were in search of goods to export. The disposed of natives would then be turned into slaves to work on the plantations and in the mines. The dependency on foreign investment was at first successful as it brought riches to landowners and modernization to cities, but the nations had no real source of revenue to pay off the enormous debts. (E 304) When the Great Depression hit, the vulnerable export market struggled as foreign trade contracted. New ideas, institutions, and economical structures were needed to stimulate the countries plagued by revolts, fixed elections, and illiteracy. The need for changes in Latin America became apparent around the time of the Great Depression. A new focus on mass politics and nationalism had begun, and new institutions were being implemented. In Mexico, President Lzaro Crdenas transformed the country through land redistribution, education reform and nationalization of the oil industry (SRI 9). The land reform took from the oligarchies and gave the peasants total freedom and economic independence as almost 18 million hectares of land was distributed. This occurance happened all over Latin America as Idigenism became important to the various states. Indigenism focused on the improvement and acceptance of the indi...