Principle Summary and Argument Regarding'Poverty of Progress by Bradford Burns'
The principle argument to explain the economic strife that surrounds Latin American countries currently is rooted in the elitist's economic selfishness and ignorant desire for'Europeanization'. The elitists set Latin America on a path of unavoidable economic troubles.
Elitists in Latin America envisioned modern, industrialized cities with growing opportunities and growing markets.The elitist's image was not selfish, in my opinion. I feel the elitists desired the greater good for the people. However, the problem occurred in the execution of modernization.
Modernization is something desired by practically all people. In general, modernization was viewed as an image of a better life. However, some elitists felt it necessary to radically change local customs and culture in order to achieve modernization, which many people opposed.
While pursuing modernization, the elitists recognized that Latin America had abundant natural resources, adequate human resources, however lacked the capital necessary for quick modernization. To solve this problem, the elitists looked abroad to Europe and the North America for capital investments.The foreign nations excitedly invested large amounts of money into with high hopes of large returns.
After a short period, initial foreign investments started showing abundant profits.Latin Americans were working in the cities and a middle class starts to rapidly evolve. Latin America started to modernize at a rapid rate and at that time the results seemed pleasing to everyone. Latin America, however, still hadn't accumulated much of it's own capital. Foreign investment in Latin America increased as investment continued to seem promising.
After the modernization boom, Latin America was economically developed, however had one very large problem. A large portion of the money b

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