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Unformatted text preview: March 31 st Import Substitution Industrialization I. Rise of ISI A. Dependency Theory Structuralization B. International Conditions: Great Depression C. Economic Nationalism- doesnt promote trade of a high degree of foreign investment. Latin America began condensing their traditional dependence of foreign markets and foreign investment. Latin America started to nationalize parts of their economy (1938, Mexico oil industry; 1940s, Argentine railways from British). Economic nationalism does not promote a small role in government from the economy. The government, in an effort to steer power away from oligarchs, started to assume a more active role in the economy. Also, promotes economic autarky (the idea that countries should be as self-sufficient as possible) and produce most what it consumes. This is in contrast to economic liberalism which says that countries must engage in international trade. II. ISI Defined A. Central Idea- Take an industrialized good that was previously imported from the first world and produce it locally. Seen as the key way to make Latin American countries less dependent on the first world. Seen as a panacea. B. Goals- to create economic independence and foster industrialization. It would provide jobs to the working classes. Populist leaders of the 1940s (ie: Peron)- authoritarian and brought...
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This note was uploaded on 04/08/2008 for the course POLI 460 taught by Professor Love during the Spring '08 term at Tulane.
- Spring '08