POLS 241 Lecture Notes - Latifundium, Atavism, Modernization Theory
11 Sep 2013
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Document Summary
In the 1960"s more than 30 countries in latin america turned to dictatorship. Until 1930": latin american economies were export oriented. Low wages, low taxes= good for competition with other. Sold their wealth and resources abroad to the us and britain. Suppliers of raw materials, they didn"t manufacture anything themselves. Had a export led development economy : have a cheap currency compared to that of buyers because they can sell more. If the cost of production, price of product and workers wage goes down then the countries can sell more of the product. Authority: have militias, police ext, regimes were authoritarian. 1930s-1940s: latin america moves towards a development model after they realize that they must sell what they make. However, they realize that they need to sell to their own population. Therefore they start making things instead of exporting= creation of small industries. (ex. Therefore they create a cycle based on the domestic market.
