Foreign trade has always been crucial to the economic development of the Caribbean. Slavery was introduced to the Caribbean by Europeans in order to make commodity export profitable. An adequate supply of (low cost, forced) labour was a necessary condition for profitability but it was not sufficient, and as market conditions changed, Caribbean countries had to shift resources from one export to another. In 1820 sugar accounted for 50% of merchandise exports but fell below 40% at the end of the century and below 20% by the 1980s. At first, countries simply shifted resources from one exportable commodity to another but none remained permanently profitable. Manufactured exports became important for a few countries after the Second World War, especially in the assembly industry, but it was the rise in exports of services that transformed the outlook for the Caribbean. Starting with tourism before spreading to other activities, such as finance, insurance, health, education and transport, the export of services is now much more important than the export of goods in most Caribbean countries and this has helped to raise living standards considerably. The Caribbean has benefited greatly from service exports, but they are not a panacea. Just as in the case of commodity exports, there is still a constant need for diversification as a result of changes in market conditions. In From Slavery to Services, Victor Bulmer Thomas builds on his earlier work, The Economic History of the Caribbean, and continues his exploration of the economic history of the entire Caribbean. Divided into four parts covering the four language areas of the Caribbean – English, Spanish, French and Dutch – Bulmer-Thomas presents a comprehensive analysis of the entire region and its constant need to adapt to changing external conditions which makes the struggle for economic independence a permanent one.

Over several centuries, England imposed itself by force and by treaty on the other three nations of the Hiberno-British Isles to form its own English Empire. For much of its life, the United Kingdom has only endured out of shared interest in overseas territorial expansion--a British Empire built on slavery. In his new history, Victor Bulmer-Thomas charts the slow rise and rapid decline of English imperialism at home, from the fourteenth century to the present. When independence movements in the colonies began challenging the British Empire, a Commonwealth was constructed to hold together both former imperial possessions--including the Irish Free State-- and the four nations of the internal empire. The Commonwealth was later supplanted by the European Economic Community, but Europe's potential as a long-term source of cohesion for the UK was dashed when the English voted to leave the EU in 2016, dragging the whole UK with them. With Empire, Commonwealth and Europe all gone, British unity is more fragile than ever. Facing the prospect of an independent Scotland, a reunited Ireland and an increasingly autonomous Wales, England may yet have to acknowledge its forgotten history as an aggressive imperial force on Britain's own, often unwilling, soil.

The economies of Latin America have undergone a deep process of change in the last decade as a result of the application of major reforms. The outcome can be fairly described as a New Economic Model. This New Economic Model is distinguished from its predecessor, in force before the 1980s debt crisis, by an emphasis on market forces and export-led growth. This book explores the main features of the New Economic Model in Latin America and, through analysis of the reform process and case studies, examines its impact on income distribution and poverty.

This study, now in a revised and updated third edition, covers the economic history of Latin America from independence in the 1820s to the present. It stresses the differences between Latin American countries while recognizing the external influences to which the whole region has been subject. Victor Bulmer-Thomas notes the failure of the region to close the gap in living standards between it and the United States and explores the reasons. He also examines the new paradigm taking shape in Latin America since the debt crisis of the 1980s and asks whether this new economic model will be able to bring the growth and improvement in equity that the region desperately needs. This third edition contains a wealth of new material that draws on the new research in the area in the past ten years.

British relations with Latin America have declined dramatically. The strength of British influence in Latin America in the nineteenth century could not be sustained as a consequence of the two world wars, the intervening depression and the emergence of the United States of America as the major power in the region. Since 1945, despite opportunities to re-establish its presence, Britain has seen a further decline in its relations with Latin America, and the consequences of neglect were brought home in spectacular fashion by the war between Britain and Argentina in 1982. Britain and Latin America: A Changing Relationship studies the reasons for this decline, examines the sources of friction and explores the prospect of strengthening relations in the 1990s.

Volume Two treats the 'long twentieth century' from the onset of modern economic growth to the present. It analyzes the principal dimensions of Latin America's first era of sustained economic growth from the last decades of the nineteenth century to 1930. It explores the era of inward-looking development from the 1930s to the collapse of import-substituting industrialization and the return to strategies of globalization in the 1980s. Finally, it looks at the long term trends in capital flows, agriculture and the environment.

The Cambridge Economic History of Latin America provides access to the current state of expert knowledge about Latin America's economic past from the Spanish conquest to the beginning of the twenty-first century. It includes work from diverse perspectives, disciplines, and methodologies from qualitative historical analysis of policies and institutions to cliometrics, the new institutional economics, and environmental sciences. Each chapter provides a comparative analysis of economic trends, sectoral development, or the evolution of the institutional and policy environment. Volume one includes the colonial and independence eras up to 1850, linking Latin America's economic history to the pre-Hispanic, European, and African background. It also synthesizes knowledge on the human and environmental impact of the Spanish conquest, the evolution of colonial economic institutions, and the performance of key sectors of the colonial and immediate post-colonial economies. Finally, it analyses of the costs and benefits of independence.

British relations with Latin America have declined dramatically. The strength of British influence in Latin America in the nineteenth century could not be sustained as a consequence of the two world wars, the intervening depression and the emergence of the United States of America as the major power in the region. Since 1945, despite opportunities to re-establish its presence, Britain has seen a further decline in its relations with Latin America, and the consequences of neglect were brought home in spectacular fashion by the war between Britain and Argentina in 1982. Britain and Latin America: A Changing Relationship studies the reasons for this decline, examines the sources of friction and explores the prospect of strengthening relations in the 1990s.

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 ushered in a period of dictatorial rule in all republics except Costa Rica. The Second World War, particularly after the entry of the United States, at first strengthened the dictatorships, but ultimately produced challenges to rule by authoritarian caudillos. The social upheavals accompanying the post-war export-led boom forced governments in each republic to address the question of economic, social and political reform.

The economies of Latin America have undergone a deep process of change in the last decade as a result of the application of major reforms. The outcome can be fairly described as a New Economic Model. This New Economic Model is distinguished from its predecessor, in force before the 1980s debt crisis, by an emphasis on market forces and export-led growth. This book explores the main features of the New Economic Model in Latin America and, through analysis of the reform process and case studies, examines its impact on income distribution and poverty.

This study, now in a revised and updated third edition, covers the economic history of Latin America from independence in the 1820s to the present. It stresses the differences between Latin American countries while recognizing the external influences to which the whole region has been subject. Victor Bulmer-Thomas notes the failure of the region to close the gap in living standards between it and the United States and explores the reasons. He also examines the new paradigm taking shape in Latin America since the debt crisis of the 1980s and asks whether this new economic model will be able to bring the growth and improvement in equity that the region desperately needs. This third edition contains a wealth of new material that draws on the new research in the area in the past ten years.

Provides access to the current state of expert knowledge about Latin America's economic past from the Spanish conquest to the beginning of the twenty-first century. It includes work from diverse perspectives, disciplines, and methodologies from qualitative historical analysis of policies and institutions to cliometrics, the new institutional economics, and environmental sciences. Each chapter provides a comparative analysis of economic trends, sectoral development, or the evolution of the institutional and policy environment. Volume one includes the colonial and independence eras up to 1850. Volume two treats the 'long twentieth century' from the onset of modern economic growth to the present.

A sweeping history of the United States through the lens of empire-and an incisive look forward as the nation retreats from the global stage A respected authority on international relations and foreign policy, Victor Bulmer-Thomas offers a grand survey of the United States as an empire. From its territorial expansion after independence, through hegemonic rule following World War II, to the nation's current imperial retreat, the United States has had an uneasy relationship with the idea of itself as an empire. In this book Bulmer-Thomas offers three definitions of empire-territorial, informal, and institutional-that help to explain the nation's past and forecast a future in which the United States will cease to play an imperial role. Arguing that the move toward diminished geopolitical dominance reflects the aspirations of most U.S. citizens, he asserts that imperial retreat does not necessarily mean national decline and may ultimately strengthen the nation-state. At this pivotal juncture in American history, Bulmer-Thomas's uniquely global perspective will be widely read and discussed across a range of fields.

First published in Chile in 1969 as Interpretacion del desarrollo social centroamericano, this classic is now available in English. The first attempt at an integrated analysis of modern Central America's socioeconomic structure, Torres Rivas's work traces the social development of Central America from independence (1871) up to the 1960s.

Using a dependency framework, but not limited by it, Torres Rivas describes the various divisions of Central American society and their evolution within the liberal development model that has been so much a part of the past century of Central American economic history. The book is compelling in its explanation of the relationship between foreign and native elements in the social development of the region. Torres Rivas describes and analyzes the resulting long-term problems this development has posed for Central America. With a new chapter added for the English edition, History and Society in Central America remains vital for readers interested in the region.