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Unformatted text preview: NtEconRestructuringGlade2005Pt20 Notes for 330 econ overview. [Copied from NtBlack4Pt14.doc] FIVE RESTRUCTURINGS SINCE 1492. 1. Conquest & colony, 1492-1750s . Rapid centralization, bureaucratic control imposed over various indig econs. [1492-1700s] Excellent parag on takeover of land from indigenous, for Spanish export-econ purposes, [which undermines nutrition, health]. Established an inequality system. Technical stagnation and stunted devel of financial sector : "nothing remotely resembling the contemporary European developments could be found, leaving the region singularly ill equipped to venture onto the territory of capitalist econ organization" after the empire collapsed. Quadruple legacy : Local pol organization was arrested ; Technological backwardness was pervasive; Organizational or social capital changed little for Spain, while the commercial rev was sweeping Europe; Foundations of enduring inequality were laid. NtEconRestructuringGlade2005Pt20, p. 1 2. Bourbon reforms [esp. 1750s-1807] tinker with the system but don't challenge the instl architecture of the Spanish system. [Covered in lecture on colonial political-econ history.] 3. Integration into the world trading system [1870-1930] [i.e., as Sanford Mosk (1948) demonstrated,], and with the building of early insts of capitalist system. Wreckage and instability during the first 5 decades after independence, except for Brazil & Chile. [Note that Bz & Chile were exceptions, because they built insts of strong pol authority, rather than relying on the short-lived power of individual “strong men.” Relate to Glade's earlier point about lack of self- governing insts or experience under the Spaniards....
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- Fall '10
- Capitalism, Electricity generation, Electric power, arg, capitalist econ organization