Did Change or Tradition Have More Influence on Economics and Politics

question 106

Essay

Did change or tradition have more influence on economics and politics in Latin America in the late nineteenth and early twentieth centuries? How and why?

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Definitions:

U.S. Economy

The economic system of the United States, characterized by a mixed economy with a high level of output, innovation, and diversity of goods and services.

Mixed Economy

An economic system blending elements of market capitalism with some form of government intervention and public enterprise.

Barter Economy

An economic system where goods and services are exchanged directly for other goods and services without using money.

Command Economy

An economic system where the government or central authority makes all decisions related to the production and distribution of goods and services.