Question

During the 19th the economics in most Latin American countries relied primarily on the expert of

Answer 1

Most people were engaged in agriculture as in the U.S. in 1820. They farmed to feed and clothe themselves; in other words, they engaged in subsistence agriculture. Most people did not own land. The land was owned by a few, such as hacendados or the Roman Catholic Church.

There were export sectors in economies. Exports were of two basic kinds: agricultural and mineral. Argentina and Uruguay exported cattle hides and salted beef. Bolivia exported silver and mercury; Peru: silver and, later, guano; Colombia: precious metals and sugar; Brazil: sugar and, later, coffee; and Mexico: silver, gold, and cotton. Most of these exports went to Europe. Little went to each other. None of it in huge volumes even in Argentina until the late 19th century. The countries lacked capital, communications networks, and technology to develop the export business. Besides, the upper class was able to meet its needs without much economic expansion. Societies were run for the benefit of the upper classes.