Why Is Latin America still Poor

Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America is startling and hard to explain at first. In the video we delve into the key historical, political and economic factors that have led to this inequality, finding that the answer is more startling and interesting than initially expected.

--Contents of this video--------------------------------
00:00 - A Tale of Two Cities
01:29 - A Tale of Two Continents
04:03 - Spanish Colonization
07:09 - Enslaving Empire's
09:18 - The Mountain of Silver (Cerro Rico)
12:00 - English Colonization
13:30 - Why The United States is So Rich
15:38 - Why Latin America is Still Poor
20:33 - Why is Latin America Poorer than North America

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CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY!

The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:

Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher
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--Sources used---------------------------------------------
Books:
- Why Nations Fail: The Origins of Power, Prosperity, and Poverty
- Bulmer-Thomas, V. (2003). The Economic History of Latin America since Independence (2nd ed., Cambridge Latin American Studies). Cambridge: Cambridge University Press. doi:10.1017/CBO9780511817397

Scholarly Articles:

#WhyisLatinAmericaPoorerthanNorthAmerica #LatinAmerica #Venezuela #Mexico #Economics #WhyisTheUnitedStatesSoRich

[CasualScholar]

Do your agree with this analysis? What could have been added? Hope you all enjoyed the new video!

[Jigglypunk]

“These countries aren’t poor. These countries are rich! Only the people are poor! They’re not underdeveloped, they’re overexploited!” - Michael Parenti

[Flynn]

In my country (Honduras), we celebrate independence on September 15. At schools we are always told that: "we didn't really got independence, we only changed from European masters to local ones" and that holds true

[jpjfarm]

Well done! Having lived in several Latin American countries I’ve witnessed a lot of the unfortunate instances you talk about. Societies have huge hurdles to conquer to get to a more just society. It’s truly tragic. Keep up the great work!

[qcqjzuo]

As a Latin American, who has both lived my entire life in Latin America, and has studied the history of all the countries that compose it. I can tell you that the main factor in the lack of development is either Civil War and internal conflicts for power or rampant corruption and violation of the resources and the state.

[babycheesus]

as a latin american, and as others have expressed in these comments I'd also agree to point the finger at corruption. It's so embedded into the culture and in all socio-economic groups that it feels depressingly like a battle that can't be won

[ArtuarCRaFT]

Huh, interesting. Thank you for the insightful information. Good video!

[Mo_Saint]

Thank you for this very informative video sir

[MVK_GS]

The biggest problem is corruption. I lived in Brazil for several years. Brazil is a rich country, as far as resources go. But every politician who rises to power does so solely to build wealth. A guy who was something like a school teacher a few years prior to taking a relatively influential politician position, that person would be a millionaire. Paraguay is a great example of this as well.

[up]

The history of latin America is so complex that it is borderline impossible to explain within one video. They are so many tangent and factors that play a role on why we are what we are today, not just european colonial history
Nevertheless, this video serves as a decent introduction. Well done mate

[Martin-dipp]

This really made me wonder how the world would be today if Europe hadn't went the route of Colonialism and instead had stuck to mutual beneficial trading. Europe would probably still have gotten rich by it.

[elteteliterariodemartin]

Thank you for this great video, and the sources you used to explain it. ❤

[plcmts]

During my first stint of working in Peru, a Peruvian told me more or less to expect Peruvians to try and trick you or take advantage of you.
He said it was nothing personal, just the way things are in Peru. I worked there 3 years and at the end of the year one of the big papers
would ask Peruvians what they like and dislike about their country, the #1 response for what they disliked was always Corruption!

[JoulezzzProject]

As a latin American, I totally agree and finger to the corruption.
On our schools we're not entitled to think by ourselves or becoming the change. We're raised in order to be employees from the world, educated to become servants of someone else...
It's such a shame we've been suffering for so many years.

[angelosuna]

I live in both nogales, born in Nogales Arizona but raised in Nogales Sonora I can see what you say, it is impactful how each side is so diferent

[dizmund]

Money invested is far better than money saved, when you invest it gives you the opportunity to increase your financial worth.

[danpatterson]

In the course of my engineering career I made many trips from the US to our factory in Mexico. My impression of the Mexican people was that they loved life and were very close to their families and friends, but a legacy of weak and corrupt governments had given them little motivation to trust authorities or respect laws. In the factory, this manifested itself as something less than strict reverence for manufacturing procedures, and our "fixes" tended to break down as soon as we flew home. Corporate finally threw in the towel and moved the whole thing overseas.

[ViolinistJeff]

I´m a Canadian who has been living in Buenos Aires, Argentina for the past 20 years. Honestly I can say that corruption on many levels is tolerated here much more than in Canada or the U.S.

[matthewbrown]

That "banking revolution" in the US was not a good thing. The US banking system didn't allow branch banking, making each bank extremely vulnerable to local economic problems. England and Canada had much sounder banking systems in the late 19th century, and Canada still does.

[Sultan-cfwf]

I'm really glad more people are looking at the absolute genius and masterpiece of a book, Why Nations Fail.
Nations do not get rich from their position in the world, they get rich from their economic bodies and political institutions.