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HIST 1400 Study Guide - Midterm Guide: Manumission, Free Trade, Social InequalityExam

Course Code
HIST 1400
Study Guide

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The Darker Side of the Economic Boom
1. Enormous variation and unevenness
a. Discrepancies among countries and regions
b. Major exports concentrated in few countries
i. 4 countries in control of a majority of exports and profits
2. Accelerate and aggravate instability and fluctuation
a. Domestic economy exposed to shocks of external demand
b. Price fluctuation
3. Increased foreign control of local economy
a. Elites borrow large sums of money; stay in debt
b. Foreign grip on ranching, agriculture, transport, electricity, railroads
c. British, then US, investment grow
4. Increased social inequality
a. Existing hierarchies strengthened by boom
b. Manifested in labor and land
5. Free trade dependency on foreign capital and loans
a. Exports always less than imports→ debt
b. Borrowing more and more money to finance infrastructure
6. Strife development of natural
a. Depressed wages prevent internal consumer market
b. Undiversified domestic economy prevents self-sufficiency
The “Boom” and its Consequences
U.S. and Latin American Slavery: A Comparison
Latin America:
Manumission and self-purchase
Large free black population
African slave trade continues much longer
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