LA 1820s - Great Depression

Question 1

Why did LA govts struggles w issues related to democracy?

Answer 1

Magnitude of change due to 300 years of colonial rule, and no longer constrained by imperial considerations.

Heavy human capital losses

Question 2

Heavy human capital losses

Answer 2

Educated skill laborers leaving LA

Question 3

Participation in LA democracy

Answer 3

Low rates and few could serve as representatives

Question 4

What encouraged LA constitutions to incorporates some kinds of separation of powers

Answer 4

Watch ing stability of the US

Inspired by the US Bill of Rights; French Declaration of the Rights of Man

Searching for a stable political system

Question 5

Voters in LA restricted

Answer 5

Free men, min income or occupational status

Excluded all but 5% to 10% of male adults (oligarchy)

Illiterates - up to 90% of Latin American population - denied the vote

Question 6

Of the countries who held elections (Chile & Uruguay, etc), only __ could vote.

Answer 6

5% of the population could vote; held property; male elites, and they affected elections

Question 7

Limits on who might be elected

Answer 7

“white” males with property or occupational status

Question 8

Great wave of immigrants in 19th century were not allowed to participate. Why?

Answer 8

Farmers coming to LA to be able to farm outside their usual conditions in more northern countries. They want to buy their own land back in Europe. Many don’t want to stay in LA.

Could not participate in voting so others could maintain control.

Question 9

Caudillos

Answer 9

Dictators
(includes military officials)

Question 10

Symbiotic relationship between Caudillos and

Answer 10

Elites

Question 10

Caudillos ruled LA contreis for more than 100 years except for

Answer 10

Argentina
Chile
Colombia
Uruguay

Question 11

Elites give money to Caudillos to protect land and resources and in return

Answer 11

Caudillos provide security

Question 12

Economic problems related to independence beset LA for years - why?

Answer 12

Organizing after loss of human capital

Lost money after war, exporting and importing was restricted

War led to stealing and destroying crops/food resources

Question 13

War bonds from British

Answer 13

Short maturities and high interest rates

Question 14

Result of war bonds from British

Answer 14

LA eventually defaulted

Question 15

LA after defaulting struggle with

Answer 15

accessing markets and getting more capital

Question 16

Factor Slowing Economic Recovery: Reason for Mexicans to flood their mines?

Answer 16

So enemies cannot take the minerals, and citizens also cannot access it.

Question 17

Why did British want to push for freer trade

Answer 17

Because they are the most competitive/advanced and can produce more efficiently as long as they have the raw materials. Want other countries to open their markets.

Question 18

LA Comparative Advantage to British is

Answer 18

their raw materials that the British need

Question 19

Labor scarcity in Europe

Answer 19

Malthusian Trap

Question 20

When the British pound was backed by

Answer 20

gold.

The Gold standard beginning in the 1870s.

Question 20

Malthusian Trap

Answer 20

Population grows geometrically and food supply grows arithmetically. Food cannot keep up with population. Famine and huger scarcity.

Question 21

Currency Increase

Answer 21

Gold Inflow (more exports over imports)

Question 22

Currency Decrease

Answer 22

Gold Outflow (more imports over exports)

Question 23

Collapse of the Gold Standard

Answer 23

Countries at war in WW1 refuse to give up gold and comply with the standard

Question 24

Countries seeking to pay soldiers

Answer 24

Squeezing debts of LA countries

Question 25

Currency convertibility suspended by countries at war - why?

Answer 25

Due to unstability. Limited imports and exports due to war. Lack of money outside war efforts.

Leading to bartering.

Question 26

Dollar Diplomacy / Gunboat Diplomacy

Answer 26

US used economic power to expand military influence in other countries. Wants control over LA (whether it is land or resources)

Question 27

Unconscious Import Substitution Industrialization (ISI)

Answer 27

LA focuses on import substitutions during WW1.

Producing goods for your domestic market that you previously imported.