Economic Relations - • Galeano o History structures...

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Economic Relations: Colonialism to 1900: Fundamental question—is there a behavior or set of traits wealthy people have that poor people do not possess? o Majority of US believe cultures and values are the reasons why people are poor—need to change values and beliefs Sowell: o US/North, Right Wing, Neoliberalism (emphasis on trade) o Reasons for poverty: Cultures, values, behavior Beliefs Education Skills, attributes, drive, motivation Family o Have little relation between natural resources and wealth Japan has higher level of skills even though they do not have an abundance of natural resources—have organization and traits that allow them to succeed Mexicans have natural resources but no push to succeed o Cultures, values, and behaviors are the reasons for poverty and underdevelopment o Colonialism had more benefits than harm Brought technology and ideas—“net gain”—poor countries benefit from exposure to wealthy countries Trade promotes efficiency Values of foreign investors help countries to succeed
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Unformatted text preview: • Galeano: o History, structures, relations, power o History of imperialism or colonialism—this is how you understand poverty Extracted gold, silver, and agricultural products and took them back to Europe • Never given a chance to succeed • Assume discrimination because of structure o Made countries “dependent” Dependency on agricultural products not industry Banana Republics • Foreign countries extracted the country’s resources and commodities and sold them to their own benefit o Depletion of their natural resources has left them unable to further develop o Actual interventions made countries dependent on foreigners—never given the chance to advance independently o Reliant on agricultural products—very insecure because of weather or competition o Foreign investors Diffuse developing countries power • “dependent” factors—factors outside of your border that you cannot control...
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