The economics and politics of mid-century populism: depression to. Populist leaders believe they magically embody needs of people and nation. Economic context is great depression followed by world war ii. Growing crisis of latin america"s previous economic model. Relationship between political reform and latin america"s move away from export-oriented economies and toured industrialization. Move to industrialization was, on one hand, practical response to global economic conditions. Populists nationalistic desire to reduce foreign control over economy. Those who benefit most from traditional economic model. Early as 1890s, larger countries of latin america industrialized in primarily products that were impractical to import. Vast majority of ordinary manufactured goods had been imported. Factors that led to radical transformation of latin america"s economic model. Majority of urban population remained too poor to afford stuff beyond basics. By 1930s, 1940s much of the population is moving into the middle class. Economies of scale necessary to make factory production possible beginning to emerge.