1930s and 1940s--ISI-w sound updated

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Back to the Future: ISI and The Rise of Populism:

Back to the Future: ISI and The Rise of Populism Import Substitution Industrialization (ISI) Durable vs. Non-Durable Goods Populism

Latin America and the World Economy Prior to 1929:

Latin America and the World Economy Prior to 1929 1913 1929 US: 173 Billion 3,835 Billion GB: 2,293 Billion 4,485 Billion Ratio: 4.5:100 51.1:100

1929 Market Crash:

1929 Market Crash Wall Street Crash of 1929 Latin American Exports Fall Sharply Between 1929 and 1931, coffee prices fell from 22.5 cents per pound to 8 cents per pound Creditors Attempt to Collect $$$ Crisis No new Imports

Latin America Reacts:

Latin America Reacts Debt Crisis for Several Countries Brazil Argentina Mexico Chile New Leaders Emerge Populist Nationalist Corporate/Fascist Models Latin America Total Exports 1928: 650 Million Pounds 1931: 350 Million Pounds 1932: 220 Million Pounds

Isolation 1930-1947:

Isolation 1930-1947 Great Depression WW II Limits Foreign Capital Limits Export Markets Limits Imports Economic Crash Weakens Ruling Elite Armed Revolts Coups New Ideas Would last for 30-50 years

US Perceptions of Latin America, 1930s-1959:

US Perceptions of Latin America, 1930s-1959 Wartime Allies Office of the Coordinator of Inter-American Affairs (Nelson Rockefeller) Legacies of Scientific Racism Backward, but with Potential Exotic: Food, People, Landscapes Cuba: Cheap Destination for Exotic Thrills Organized Crime Casinos Drugs Sex


ISI Break it down... IMPORT SUBSTITUTION INDUSTRIALIZATION Political Will & Economic Necessity How does it work? State-led development Subsidies Tariffs Nationalization


Populism WWI to 1960s Hard to Define Urban New Voters (Urban Working Class) Middle Class Support (Education and White Collar Jobs) Charismatic Nationalist Dissatisfaction with traditional politics (Liberal Elites, Church, Land Owners) Used New Media (Radio, TV, Barnstorming, Mass Rallies)

Populism and Politics:

Populism and Politics Evokes Foreign Domination and Better the nation and the average worker Drew from socialism, communism, democratic capitalism, fascism Eclectic and Flexible over time Man of the People Flourishes after WWII

Populist Politics and ISI:

Populist Politics and ISI Worked Together Goals of ISI and Populist Politicians Put People to Work ($$$ to buy goods) Roads, Dams, National Industries Urban Workers Benefit from more jobs, vote for Populists

Results of Populist and ISI Policies:

Results of Populist and ISI Policies Light Industry Explodes all over Latin America Cerveceria Cuahotemoc Heavy Industry Needed Massive Amount of Government Assistance Steel (Cheap Electricity) → Dams, roads, entire support network How to fund ISI policies?

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