Re:Young 'to be poorer than parents at every stage of life'
by WalterBright on Tuesday November 24, 2015 @02:40PM
(#10623058)
S. America had enormous silver mines. Venezuela is big on oil production.
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Re:Young 'to be poorer than parents at every stage of life'
by tomp on Tuesday November 24, 2015 @03:14PM
(#10623333)
I imagine the main resources that USA had are the huge plains to grow food in, in a relatively favorable climate. The industry comes later.
Maybe there was a lot of wealth in silver, I don't know about that. It seems that it had some land-based oil that they started extracting in the beginning of the 20th century, but I've no idea if they were as extensive as in the US (where there was Standard Oil, an immensely wealthy corporation).
Mind you, I'm not saying it was only the natural resources, there are other factors as well - different climate, geography, cultural background (English vs. Spanish/Portuguese), colonial history, ... I somewhere read that it's a curious phenomenon how so many countries in SA had so many dictatorships in sequence...
Re:Young 'to be poorer than parents at every stage of life'
by WalterBright on Tuesday November 24, 2015 @04:23PM
(#10623681)
It's really hard to argue that S. America, Africa, Asia, etc., all don't have immense natural resources and favorable climates.