Liberal Era (1880-1930s)
This is where the idea of economic liberalism came from.
What is Europe?
This prominent world event based in America led to the adoption of ISI-style policies.
What is the Great Depression?
This group was intended to benefit from socialism.
Who are the low income working class?
Latin America needed to cope with economic crises in the late 20th century, and sought stability and growth through a ___.
What is free market?
During this era, Brazil claimed this was a “necessary evil for the nation’s tropical, agrarian economy.”
What is slavery?
This was the main goal ISI had after the failure of the liberalism era.
What is creating more self-sufficient economies with domestic industrial bases?
This political regime is associated with the socialist revolution movement.
What is authoritarian government that sought to destroy capitalism?
This global conflict in the late 20th century led to the rise of neoliberalism in Latin America.
What is the Cold War?
This was the main goal of this era.
What is liberating economic activity restrictions imposed by the church and/or state?
This organization thought that ISI policies would help Latin American countries break away from “economic backwardness.”
What is the United Nations Economic Commission for Latin America (ECLA)?
These exemplified that socialist revolutions wouldn’t work.
What is Cuba and its battles with the United States?
During this period, examples of this included the transfer of state-owned enterprises to private ownership, the reduction of labor protections, and the integration of Latin America into the global market.
What are neoliberal economic policies?
This group of people had control of the political system, allowing for more export-oriented economic expansion, without having to worry about the working class.
Who are the wealthy and elite?
These acted as a barrier to global trade. It helped domestic entrepreneurs thrive, but negatively impacted citizens as they often overpaid for certain goods.
What are high tariffs?
This major event outside Latin America led to the loss of socialism’s popularity.
What is the fall of the Soviet Union?
These were the 3 groups that benefited the most from neoliberal policies.
Who are the business elites, political leaders, and foreign investors?
The reform process that was prominent during this period focused on changing agricultural practices that resulted in Indigenous people being displaced and removed from their homelands.
What was agrarian reform?
Besides urban workers and wealthy entrepreneurs, this group also benefited from the ISI era.
Who are State-owned enterprises?
This political theology arose from this era and was eventually condemned by Pope John Paul II.
What is liberation theology?
Even though neoliberalism has led to economic growth it has some drawbacks like only benefiting people from an individualist approach but Latin American cultures are generally collectivist.
What are the criticisms related to neoliberalism economic policies?