Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities.
This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.
Beatriz Armendáriz is Senior Lecturer in the Department of Economics at University College London and Research Affiliate at Harvard University. She is coauthor of The Economics of Microfinance (MIT Press).
Felipe Larraín B. is Professor of Economics at the Catholic University of Chile and Director of the Latin American Center of Economics and Social Policies (CLAPES UC). He is coauthor of Macroeconomics in the Global Economy and was Finance Minister of Chile from 2010 to 2014.
The microfinance revolution has allowed more than 150 million poor people around the world to receive small loans without collateral, build up assets, and buy insurance. The idea that providing access to reliable and affordable financial services can have powerful economic and social effects has captured the imagination of policymakers, activists, bankers, and researchers around the world; the 2006 Nobel Peace Prize went to microfinance pioneer Muhammed Yunis and Grameen Bank of Bangladesh. This book offers an accessible and engaging analysis of the global expansion of financial markets in poor communities. It introduces readers to the key ideas driving microfinance, integrating theory with empirical data and addressing a range of issues, including savings and insurance, the role of women, impact measurement, and management incentives. This second edition has been updated throughout to reflect the latest data. A new chapter on commercialization describes the rapid growth in investment in microfinance institutions and the tensions inherent in the efforts to meet both social and financial objectives. The chapters on credit contracts, savings and insurance, and gender have been expanded substantially; a new section in the chapter on impact measurement describes the growing importance of randomized controlled trials; and the chapter on managing microfinance offers a new perspective on governance issues in transforming institutions. Appendixes and problem sets cover technical material.
The rich documentation concerning these people, commonly called Aztecs, includes, in addition to a few codices written before the Conquest, thousands of folios in the Nahuatl or Aztec language written by natives after the Conquest. Adapting the Latin alphabet, which they had been taught by the missionary friars, to their native tongue, they recorded poems, chronicles, and traditions.
The fundamental concepts of ancient Mexico presented and examined in this book have been taken from more than ninety original Aztec documents. They concern the origin of the universe and of life, conjectures on the mystery of God, the possibility of comprehending things beyond the realm of experience, life after death, and the meaning of education, history, and art. The philosophy of the Nahuatl wise men, which probably stemmed from the ancient doctrines and traditions of the Teotihuacans and Toltecs, quite often reveals profound intuition and in some instances is remarkably “modern.”
This English edition is not a direct translation of the original Spanish, but an adaptation and rewriting of the text for the English-speaking reader.
12.5 million Africans were shipped to the New World during the Middle Passage. While just over 11.0 million survived the arduous journey, only about 450,000 of them arrived in the United States. The rest--over ten and a half million--were taken to the Caribbean and Latin America. This astonishing fact changes our entire picture of the history of slavery in the Western hemisphere, and of its lasting cultural impact. These millions of Africans created new and vibrant cultures, magnificently compelling syntheses of various African, English, French, Portuguese, and Spanish influences.
Despite their great numbers, the cultural and social worlds that they created remain largely unknown to most Americans, except for certain popular, cross-over musical forms. So Henry Louis Gates, Jr. set out on a quest to discover how Latin Americans of African descent live now, and how the countries of their acknowledge--or deny--their African past; how the fact of race and African ancestry play themselves out in the multicultural worlds of the Caribbean and Latin America. Starting with the slave experience and extending to the present, Gates unveils the history of the African presence in six Latin American countries--Brazil, Cuba, the Dominican Republic, Haiti, Mexico, and Peru--through art, music, cuisine, dance, politics, and religion, but also the very palpable presence of anti-black racism that has sometimes sought to keep the black cultural presence from view.
In Brazil, he delves behind the façade of Carnaval to discover how this 'rainbow nation' is waking up to its legacy as the world's largest slave economy.
In Cuba, he finds out how the culture, religion, politics and music of this island is inextricably linked to the huge amount of slave labor imported to produce its enormously profitable 19th century sugar industry, and how race and racism have fared since Fidel Castro's Communist revolution in 1959.
In Haiti, he tells the story of the birth of the first-ever black republic, and finds out how the slaves's hard fought liberation over Napoleon Bonaparte's French Empire became a double-edged sword.
In Mexico and Peru, he explores the almost unknown history of the significant numbers of black people--far greater than the number brought to the United States--brought to these countries as early as the sixteenth and seventeenth centuries, and the worlds of culture that their descendants have created in Vera Cruz on the Gulf of Mexico, the Costa Chica region on the Pacific, and in and around Lima, Peru.
Professor Gates' journey becomes ours as we are introduced to the faces and voices of the descendants of the Africans who created these worlds. He shows both the similarities and distinctions between these cultures, and how the New World manifestations are rooted in, but distinct from, their African antecedents. "Black in Latin America" is the third instalment of Gates's documentary trilogy on the Black Experience in Africa, the United States, and in Latin America. In America Behind the Color Line, Professor Gates examined the fortunes of the black population of modern-day America. In Wonders of the African World, he embarked upon a series of journeys to reveal the history of African culture. Now, he brings that quest full-circle in an effort to discover how Africa and Europe combined to create the vibrant cultures of Latin America, with a rich legacy of thoughtful, articulate subjects whose stories are astonishingly moving and irresistibly compelling.