Why this book?
It is very rare for economists to write clearly and intelligibly for lay readers. It is even rarer that the complexities of the Central American economies are lucidly explained at both macro- and micro-levels, with a critique that is profound and alternatives that are viable. Although some things have changed in the last thirty years, it is simply not possible to understand contemporary Central America without knowledge of its previous political economy.
Why should I read it?
1 author picked The Political Economy of Central America Since 1920 as one of their favorite books, and they share why you should read it.
What is this book about?
In this book Victor Bulmer-Thomas uses his previously unpublished estimates of the national accounts to explore economic and social development in the five Central American republics from 1920. He examines in detail variations in economic policy between countries which help to account for differences in performance. The major political developments are woven into the analysis and linked to changes in internal and external conditions. Growth under liberal oligarchic rule in the 1920s, heavily dependent on exports of coffee and bananas, was accompanied by modest reform programmes. The 1929 depression, which hit the region hard, undermined most of the reforms and…