OG 2017 New RC
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- During the 1980s, many economic historians
studying Latin America focused on the impact of
the Great Depression of the 1930s. Most of these
historians argued that although the Depression
- began earlier in Latin America than in the United
States, it was less severe in Latin America and did
not significantly impede industrial growth there.
The historians’ argument was grounded in national
government records concerning tax revenues and
- exports and in government-sponsored industrial
censuses, from which historians have drawn
conclusions about total manufacturing output
and profit levels across Latin America. However,
economic statistics published by Latin American
- governments in the early twentieth century are
neither reliable nor consistent; this is especially
true of manufacturing data, which were gathered
from factory owners for taxation purposes and
which therefore may well be distorted. Moreover,
- one cannot assume a direct correlation between
the output level and the profit level of a given
industry as these variables often move in opposite
directions. Finally, national and regional economies
are composed of individual firms and industries,
- and relying on general, sweeping economic
indicators may mask substantial variations among
these different enterprises. For example, recent
analyses of previously unexamined data on textile
manufacturing in Brazil and Mexico suggest that the
- Great Depression had a more severe impact on this
Latin American industry than scholars
had recognized.
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