HISTORY 166D Lecture Notes - Lecture 9: Import Substitution Industrialization, United Fruit Company, Capitalism
24 May 2016
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1950"s guatemala was poor, indigenous, undeveloped, controlled by landed oligarchy backed by military and foreign investors. Guatemala- 2% of land owners controlled 72% of land. Bananas and coffee economy developed by investors (united fruit company) la frutera, el pulpo. The united fruit company was a state within a state (largest employers, property owner. Atlantic port was owned by ufc, telephone, railroad. Guatemala ruled under dictatorship of gen. jorge ubico (he provided ideal investor climate- paid no external taxes) no unions, strikes under ubico you could get executed for this. 1944 ubico overthrowned by a political coup (middle class reformers) teachers, workers, junior officers (inspired by what was going on in mexico) ww2. Known was october revolution (ten years of spring) started by overthrowing ubico. 1945 guatemala gold elections and juan jose arevalo (will be first president) Arevalo is determined to break internal and external dominance (largest estates, break the country from outside control of foreign investors.
