Effects Of Economic Development On A Nation

Most people regard industrialization as a positive development capable of generating great wealth and revitalizing run-down areas. Mention industrialization today, and it brings to mind large factories organized with the latest technologies in mass producing. Along with these visions comes the promise of more jobs for the community, higher rates of pay, and financial stability. One can only think of the positive influences on a community that the opening of a new factory could bring, but during what some have deemed the Industrial Revolution, industrialization only meant using machines and new power sources to accomplish a task formerly done by human and animal power. Our modern day conception of industrialization can greatly influence our

The Latin American countries have been subject to many changes ever since the American continent was discovered. These changes have mainly affected the economy, culture and power changes these countries have suffered throughout the years. According to Jon Charles Chasteen on his book “Born in Blood & Fire” During the twentieth century, there were three main events that changed the course of Latin American countries and their economies. These three events were, the emergence of nationalism, the end of World War II, and the Cuban revolution. However, in my point of view, the event that created more impact in Latin America and the future of these countries has been Cuban Revolution. It is not a secret that the Cuban Revolution created a big impact to the country’s future, unfortunately this revolution not only changed Cuba, but also the entire region of Latin America.

Revolution started to take over the world. The French Revolution started to happen, and ideas of enlightens started to spread. Latin America’s Spanish King was just removed, and the Creole generals started to lead wars of independence. Now was the time to begin a Revolution. The uneven distribution of resources lead to conflict and Revolution in Latin America by geographic luck, advanced weapons, and unfair social class.

Models for post-revolutionary Latin American government are born of the complex economic and social realities of 17th and 18th century Europe. From the momentum of the Enlightenment came major political rebellions of the elite class against entrenched national monarchies and systems of power. Within this time period of elitist revolt and intensive political restructuring, the fundamental basis for both liberal and conservative ideology was driven deep into Latin American soil. However, as neither ideology sought to fulfill or even recognize the needs or rights of mestizo people under government rule, the initial liberal doctrine pervading Latin American nations perpetuated

Summarise the Main Development of a Child from the Age range 0-2, 3-5, 5-8 Years

Why was Mexico so much poorer than the United States in the 1980s? Most economists would answer this question by pointing to Mexico’s boom and bust cycles, and the United States’ pattern of relatively stable growth. These cycles occur in Mexico because of political instability and the fluctuation of capital availability. This answer is not wrong, but it is incomplete. Behind economics and politics, geography looms, tying political science and economics together. Geography, more than any other factor, explains why the United States in the 1980s was so rich and Mexico was so poor.

Latin America has a long and complex history. From the early 1500s to 1888 there have been many political changes (foreign control, political ideology, slavery) and some continuities (central control), but the changes have had a greater effect because independent nations were able to establish themselves and form their own governments. Globally, the European Industrial Revolution was taking place which allowed for a political advantage because the new technologies could give the European governments stronger control over their colonies.

When the liberals took the power away from the conservatives, commercial agriculture and product exportation took place. Eventually, came two agricultural modernization strategies; the radical policy strategy and the reform policy strategy. As stated by James Mahoney, “when successfully implemented, a radical policy strategy gave rise to radical liberalism, as in Guatemala and El Salvador. The reform strategy led to reformist liberalism, as was the case for Costa Rica” (230, Mahoney). Aborted liberalism took place when the two strategies mentioned before were not successfully implemented. The point of these liberalisms was to provide a structured and organized foundation for “military-authoritarian, democratic and traditional-authoritarian regimes” (230, Mahoney). In Guatemala and El Salvador, radical liberalism made changes in the military-authoritarianism aspect. In Costa Rica, electoral incorporation allowed politicians to go after the demands of democracy. In Honduras and Nicaragua, US intervention cut off the reformist and radical liberal ideas. Liberalism changed a lot of things Central America and was a part of the development of each

With the increase in industrialization, particularly rail roads and steam boats, Latin America could efficiently export more goods. The installation of railroads and increased trade stabilized the economy of many countries. As long as Europe and the United States required raw materials, the economy would continue to grow. With the economy growing, political stability followed. This is demonstrated in Chasteen’s essay “Governance did become more orderly. As the profits of the export boom rose, government revenues from import/export taxes rose too…Higher government revenues afforded middle-class people new employment opportunities…Greater stability and prosperity attracted further investment from aboard intensifying trade, and the cycle repeated itself” (Chasteen, 207). As more money flowed into the continent, the more the government improved. Using the available revenue from the export boom, local governments could afford better equipment and put down rebellions with less casualties. The government was better able to provide more individuals with employment opportunities, thus stabilizing the politics in the Spanish Americas.

In the 1500s the first settlers settled in an area near the Gulf of Fonseca this territory would later be known as El Salvador. Soon after the territory was conquered by Spanish rule in 1524 and ruled by King Charles I of Spain until their independence in 1838 (Background, 2012). Struggling with the new found independence this new nation was curse with constant revolutions and over-turning of governments (Background, 2012). Situated in the middle of the fresh region called Central America this sovereign state had neither major resources nor growing economy, whereas other nations had an industry to depend on once the colonial power leaves this nation was forced to start from scratch.

Galeano portrays this moment in Latin American history as the instant U.S investors took control over the industries. He details the dangers they went through when producing one item to export for the benefit of foreigners, and how they later imported the processed goods from those same foreign countries, injecting money only overseas. The fact that Latin America needed imports to survive initiated the imperial link the U.S has upon it. As stated by Galeano, “The growing dependence on foreign supplies produces the growing identification of the interest of U.S. capitalists operating in Latin America with U.S. national security”11, bluntly showing the relationship between the United States and Latin America. “With petroleum, as with coffee or meat, rich countries profit more from the work of consuming it than do poor countries from the work of producing it”12. Because profit was not being retained in the Latin American countries, nationalization of the industries became of importance. The United States offered intervention in order to protect everyone’s interests with the proposal of free trade, but this was no more than another manipulation to continue having power over Latin America and its resources: “Latin America’s big ports, through which the wealth of its soil and subsoil passed en route to distant centers of power, were being built as instruments of the conquest and domination of the countries to which they belonged, and as conduits

During the mid 1800s, trade was propelled forward with the innovation of steamships. The global trading market took off like a rocket and Latin America had to keep up with the demands

The US market crash of 1929 affected all Western industrialized countries; however, the repercussions sensed by Latin American countries were quite severe, especially throughout the years to come. The establishment of US investments in Latin America and the exports Latin American countries provided to the US were about to take different paths. During this time, the economic development of most Latin American countries was based mostly on agriculture and mining, but the shift towards structural economic and political strategies had a profound consequence on each one of these country’s economies.

How come Latin America and the Caribbean countries reverse the discourse, after decades of opposition to expansive trade ties with the United States? In most cases, the reversal was caused by a mass wave of in national economic policies and development strategies due to the failure of development from the 1960’s and 1970’s, the give way of debt finance due to the Latin American debt crisis of the 1980s, and the pressures originating from the advance of globalization. The work initiated by Mexico leaders would go on to pressure many Caribbean and Latin American countries into wanting to join trade ties after the intiation of the North American Free Trade Agreement.

Economic growth is a necessary but not sufficient condition of economic development. There is no single definition that encompasses all the aspects of economic development. The most comprehensive definition perhaps of economic development is the one given by Todaro: ‘Development is not purely an economic phenomenon but rather a multi – dimensional process involving reorganization and re orientation of the entire economic and social system. Development is a process of improving the quality of all human lives with three equally important aspects. These are: 1.