Technological innovation has played a great role in the development of many countries in the world. The advancement of Information Communication Technologies (ICT) has impacted various sectors of the economy in most parts of the world positively. Technological innovations have made it possible for storage, access and retrieval of large volume of information. Learning resources have become readily available due to the development of ICT. Innovation of technology has had a great impact various economic sectors such as education, health, science, business and government. Entrepreneurship and Innovation have become essential factors for long-term economic development of nations in the word. Technological innovations have contributed to increased economic liberalization, emergence of multination corporation, spreading of entrepreneurial skills and culture, and globalization. Economic opportunities have opened up thereby allowing the movement of technology, management, and foreign capital. Transnational Corporations have become dominant in the world economy. Trans-nationalism has encouraged the opening of national economies. As result business enterprises from various nations of the word have formed mergers to enjoy the economies of scale. Governments need to ensure a fruitful environment for innovation and investment to foster economic development.
How did class politics affect the newly formed Latin American countries?
Latin American countries struggled to gain socio-political and economic stability after independence mainly due to the style of governance that had been established by the colonial masters. The nations continued to rely on exports and foreign investment. The ancient autocratic and paternalism was not suitable for the new democratic nations. The liberators of the nations could not make strategic political decisions that were needed to steer the countries forward. The liberators were inexperience since the class system of the colonial government denied them the chance of any governing position in their countries. Wealth and authority were in the hands of a few rich individuals who disregarded public opinion and representation. The ruling authorities disregarded the plights of the poor in the countries. Political instability was fuelled by military coup and the desire for more power. The nations suffered from one civil war to another as they tried to seek political situation to their problems. The nations of Latin America struggled to have economic stability, social justice and cultural autonomy.
What pre-existing conditions in Mexico enabled the Mexican Revolution?
Mexican revolution was triggered by the desire for nationalism and the concern for Indian culture. The education system dismissed western capitalism and stressed on the Indian heritage. The heroes of the revolution were highly celebrated. Many artists such as Diego Rivera offered a program for the future by recapturing the past cultural practice of the nation. The changes faced stiff opposition from the church leaders who preferred western culture. The leaders of the revolution movement instituted a new regime that was based on a single party political system. A dominant political force comprising of the middle class, peasants and the military were incorporated into the revolutionary movement. The needs of various classes of citizen in the country were reconciled to fit the one?party rule. The presidential rule was limited to a six-year term. The Mexican revolution aimed at removing the corrupt political system that was controlled by the middle and the upper oligarchy or the military of the country. There was great economic disparity that needed immediate attention. The revolution was characterized by civil wars. Liberalism failed to provide solutions to the social problems that were facing the Mexican society during the 1930s. The socio-economic structure of the nation was not suited for liberalism. Therefore, the nation dismissed western democracy as a failure and looked for a better solution in their culture.
Development and dependency
A prosperous nation is the one that can develop independently without heavily relying on the wealthy western nations. Majority of the Latin American nations relied on the western countries for economic assistance during the pre-independent period. Over-dependency is a hindrance to development and should be minimized at all cost. Most of the countries that heavily rely on donor aid have continued to languish in poverty except for a few who have managed to escape from the dependency trap. Currently, most of the Latin American nations have become independent and are on the verge of economic growth and developments. Countries like Mexico are listed among the top middle-income countries. Sustainable development is important for growth and development of the nation. Most cultures recognized the existence of a balance between the society, economy and the environment. Sustainable development is made up of three key pillars. These are social, economy and ecological dimension. Economic development majors on maximization of profit, and should incorporate the aspect of social market economy to produce socially fair outcomes like the redistributing of income in case there is failure in the market mechanism. Economic decisions are made based on several factors like the external costs that have a serious impact on the environment.
Why did military-based governments’ pickup so easily during the 1960-1980s? What pre-existing conditions or cultural attitudes enable the military to step in?
Latin American countries were ruled by the military during the 1960-1980s due to the perceived threat the authoritarian regimes posed on the military. Militaries, usually, intervene in politics when they are threatened. Most of the generals who seized power in the Latin America countries were preoccupied with socio-political and ideological threats. The social, economic and political instability of the countries contributed to the collapse of democracy. As a result, the military stepped to occupy the leadership vacuum that had been created. The economies of the nations were dwindling and highly depended on foreign investment and export. The countries lacked their economic solutions. Most of the authoritarian regimes poorly administered the nations since they had no leadership experienced. They adopted western based socio-political and economic system that never suited the needs of the countries.
Racial and class prejudice contributed to political instability of most Latin America nations. The middle class and the military grabbed power and ruled the peasants without giving them any form of representation in the government. Economic disparity and lack of local solutions to local problems contributed to the collapse of the political system. The single party rule in some nations did not consider the needs of the diverse population of the nations.
What are the greatest challenges for Latin America from the 1990s onward? Do you foresee a worsening or an improvement of conditions?
Lack of democracy, social injustice and economic instability continue to plague Latin America. Social justice and liberalization are the greatest challenges facing most of the Latin America countries. The quest for social justice, economic growth and political stability is on the rise in most part of Latin America. Several factors such as class interest, power struggles and international conditions have been a hindrance to revolutionary changes in Latin America. Positive socio-economic outcome have been realized in Mexico due to the implementation of radical reforms. Many Latin American countries are carrying out reforms to enable economic growth and development.
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