This study focuses on the genesis of Peru's 20th century economic
elite, the so-called Peruvian oligarchy. It argues that it is wrong
to consider this group just as a historical continuation of the
colonial merchant aristocracy or the coastal plutocracy of the
Guano Age. Using new historical evidence, it shows how in the
growth period of post- war reconstruction in the late 19th century,
nouveaux riches found profitable new investment possibilities. This
elite consisted of not just limeos and provincianos (two thirds of
the sample), but immigrants from Italy, Germany, Spain, France, and
England (one third of the sample). Greater purchasing power
encouraged elite altruism in ways ignored by social scientists.
Philanthropy defines and exemplifies their values, confirms their
social pre-eminence, not so much over the poor as those immediately
beneath them. Both established and new elites need to show off
their status and their capacity to act charitably in life and
death.
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