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Since the immediate post–World War II era, the International Monetary Fund (IMF) has played a leading role in the political, economic, and social lives of Latin Americans. Its role has evolved from the Bretton Woods era of the postwar period, through the era of the Washington Consensus, and into the post-2008 crisis period. However, throughout those times the institution served as the enforcement instrument for orthodox economic policies within the liberal international order. It conditioned emergency lending to countries in economic distress on the implementation of austere economic policies. The region’s workers consistently bore the costs of the IMF’s prescribed policies. Such policies resulted in fewer public-sector jobs, reductions in welfare state benefits, and increased levels of foreign involvement in national economies. Consequently, the IMF became the subject of frequent labor protests. Workers understood the key role the IMF played in devising the policies that caused them pain and often took steps to resist. Although the IMF’s effects on the working class are well understood within Latin America, it has not been the subject of sustained historical analysis. To understand the dynamics of the region’s political economy, historians should focus on the IMF to a degree similar to that of economists and political scientists. More specifically, the relationship between the IMF and Latin American workers is ripe for sustained analysis across disciplinary boundaries.

Article

In the late 19th and early 20th centuries, the global trade in commodities forged new economic interconnections and contributed to the emergence of modern ways of life. As one of the leading exporters of temperate goods such as wool, beef, and wheat, Argentina was at the forefront of these trends, and the country underwent remarkable expansion between 1875 and 1913. Although export goods linked Argentina to consumers in Europe and elsewhere, these vital relationships were often obscured by the malleable nature of commodities, the far-flung scope of overseas trade, and the perceived divergence between rural and urban worlds. Within Argentina, similar dynamics were also at work, but commodities became referents in disputes over economic distribution, social inequality, and national development. The tensions between the export sector and an increasingly industrialized and urbanized society geared toward mass consumption raised questions as to how to manage the nation’s wealth—conflicts involving commodities that parallel those of other Latin American societies. By placing the economic history of commodities into conversation with recent research on the social, cultural, and political history of consumption, this article reconsiders Argentina’s “Golden Age” of expansion and its aftermath. The connecting and distancing power of commodities reveals how populations in Argentina and abroad experienced modern capitalism, including its signature transformations of the natural world and everyday life.

Article

From the earliest days of Spanish and Portuguese colonial rule up until the late 19th century, banana cultivation in the Americas was carried out mostly by smallholders. That changed around 1880, when schooner captains based in Boston and New Orleans began to buy bananas in the Caribbean and sell them in the United States. In the geographically small countries of Central America, a couple of US-based banana companies have wielded enormous influence. The United Fruit Company (now known as Chiquita) acquired so much power in Guatemala and Honduras that it came to function as a state within a state, giving rise to the notion of “banana republics.” The company consolidated its power through various means: it installed authoritarian civilian and military governments that gave concessions to land, railroads, and ports; it divided its labor force along ethnic and racial lines; it built hospitals, schools, workers’ barracks, and houses for its management; and it used massive amounts of pesticides and herbicides in a capital intensive effort to cultivate varieties of the fruit that North American consumers came to expect but which were susceptible to Panama disease and Black Sigatoka. Bananas and plantains are a dietary staple throughout the tropics, and the diseases that beset the Gros Michel and Cavendish varieties that are grown on monocrop plantations threaten a vital source of healthy and relatively cheap calories that much of the world has come to rely upon. In recent years, consumers and civil society groups have organized to demand more socially and environmentally responsible bananas, creating organic and “fair trade” alternatives to conventional “free trade” bananas.

Article

Alison J. Bruey

Chile was one of the first countries in the world to undergo a transition to neoliberalism. Neoliberalism became official state policy in 1975, during the Pinochet dictatorship (1973–1990), during which time it generated two deep economic crises and historicall high unemployment. Since 1990, civilian administrations have continued to administer the neoliberal model, popularly referred to as el modelo, with selective reforms. Despite economic growth and reductions in poverty rates since 1990, el modelo has become ever more controversial. In the 21st century, public protest has increased as broad sectors of society negatively affected by the privatization of education, healthcare, and pension systems, among other ills, have organized collectively to express their discontent.

Article

After decades of revolutionary upheaval and political violence that began early in the 20th century, Mexico had seemingly achieved stability and a relative level of social peace by the 1940s. The peasant revolution of 1910—beginning with its armed, insurrectionary phase (1910–1920) to the subsequent decades (1920–1940) that involved making “The Revolution” manifest in the everyday lives of Mexicans who (to borrow historian Jeffrey Pilcher’s metaphor) chose à la carte from the revolutionary menu—produced a durable political order characterized by an active level of popular participation and legitimacy. The peace was durable, yet potentially fragile since postrevolutionary rulers, contained within the confines of the Partido Revolucionario Institucional (PRI) and its previous incarnations, could not take the peasant masses for granted. Revolution had taught these masses something about their power, both its limitations and potential, to shape the content and form of the Mexican state. After 1940, as the PRI gradually exhibited its preference for political authoritarianism and an economic project that rapidly industrialized and urbanized the country while pauperizing the countryside, a series of disparate popular protest movements continually emerged. Usually peaceful and basing their alternative modernizing visions on the 1917 Constitution and the radical policies of President Lázaro Cárdenas during the 1930s, these movements—peasant, organized labor, and student movements—often faced repression and violence at the hands of state agents and/or local-regional caciques when demanding political democracy and economic justice. The spectacular massacre of protestors in public spaces and the selective assassination of dissident movement leaders represent two of the tactics employed by the PRI to quell popular resistance in the post–1940 era. Yet, such instances of state violence also stimulated political and tactical radicalization as some protestors organized revolutionary expressions of armed struggle and guerrilla warfare. From 1940 to 1982, more than three dozen armed organizations emerged in almost every region, in both urban and rural settings, displaying a wide variety of revolutionary ideologies and practices. Beginning with Rubén Jaramillo’s 1943 armed resistance in Morelos and ending with the formal dissolution of the urban Liga Comunista 23 de Septiembre in 1982, these armed struggles generally shared the goal of overthrowing the PRI regime, seizing state power, and articulating a socialist vision for a post-PRI Mexico.

Article

The Transatlantic Financial Crisis of 1837 produced a global depression that lasted until the mid-1840s. Falling cotton prices, a collapsing land bubble, and fiscal and monetary policies pursued by individual actors and financial institutions in the United States and Great Britain were all responsible. A comprehensive understanding of the panic must take into account the global movements of gold and silver that linked Mexico, China, the United States, and Great Britain in complex networks of credit and debt. In the United States, businesses, banks, and individuals declared bankruptcy; states defaulted on their debts; commodity prices dropped; credit instruments lost their value; and unemployment rose amid a general atmosphere of pessimism and an erosion of confidence. The severity of the panic prompted politicians and financial theorists to reevaluate their ideological assumptions regarding the proper role of governmental regulation in an economy. In a larger sense, the panic demonstrated how the expansion of slavery in the United States, British imperialism, financial speculation, and recurring cycles of boom and bust were emerging as defining features of modern capitalism.

Article

In the 1850s, Juana Catarina Romero, known popularly as Juana Cata, peddled her cigarettes on the streets of Tehuantepec in the state of Oaxaca, Mexico, an activity that enabled her to serve as a spy for the liberals under the command of Captain Porfirio Díaz during the War of the Reform (1858–1860). By 1890, Romero (1837–1915) had emerged as an international merchant, sugar cane producer and refiner, philanthropist, and “modernizing” cacica of the city of Tehuantepec. As powerful women rarely receive credit for their achievements, popular myth attributes her success to the men in her life, a supposed youthful love affair with Díaz or a later lover, Colonel Remigio Toledo. In contrast, a study of her career helps to shed light on how women could attain and exercise power in the 19th century and the ways in which they participated in the construction of the nation-state and a capitalist economy. Her trajectory shows that when allied with these forces of modernization, women could take on a more public role in society. It also reveals that it is through the lens of local and regional history that women’s contributions and accomplishments, so often erased in national histories, can be made visible.