A core region is the first place for expected shifts in archaeological materials before, during, and after political changes like state emergence and imperial consolidation. Yet, studies of ceramic production have shown that there are sometimes limited or more subtle changes in the ceramic economy throughout such political fluctuations. This article synthesizes recent efforts to address political economic changes via geochemical characterization (neutron activation analysis; NAA) in the Lake Pátzcuaro Basin in western Mexico. This region was home to the Purépecha state and then empire (Tarascan; ca. AD 1350–1530), one of the most powerful kingdoms in the Americas before European arrival. The combined ceramic dataset from four sites in the region result in eight geochemical groups. Our analysis indicates that the region experienced long-term and relatively stable ceramic production that was not substantially altered by the emergence of the state and empire. In addition, we find evidence for (1) dispersed, localized production; (2) long-lived compositional ceramic recipes; and (3) a complex ceramic economy with differential community participation. We discuss why documenting local ceramic production and craft production more generally is important for the study of past political economies.

In 1939 an earthquake destroyed south-central Chile, especially the city of Chillán. This event was arguably the most catastrophic socio-natural disaster in Chilean history, yet it has been mostly ignored in historical research. This article shows that the earthquake triggered a critical juncture for the Chilean state and was a determining factor in some of the most important institutional developments of the period. Using primary sources, the article describes this juncture, focusing on the destabilizing effect of the earthquake and linking it to the creation of two new state institutions, the Production Development Corporation (CORFO) and the Reconstruction and Assistantship Corporation (CRA), together with other important changes in state capacities. It concludes that the disaster is crucial in understanding the Chilean transition from an exporting economy to an import-substituting one after 1940, and to account for the strength of the Chilean state in the decades to come.

In premodern economic systems where the social embedding of exchange provided actors with the ability to control or monopolize trade, including the goods that enter and leave a marketplace, “restricted markets” formed. These markets produced external revenues that could be used to achieve political goals. Conversely, commercialized systems required investment in public goods that incentivize the development of market cooperation and “open markets,” where buyers and sellers from across social sectors and diverse communities could engage in exchange as economic equals within marketplaces. In this article, we compare market development at the Late Postclassic sites of Chetumal, Belize, and Tlaxcallan, Mexico. We identified a restricted market at Chetumal, using the distribution of exotic goods, particularly militarily and ritually charged obsidian projectile points; in contrast, an open market was built at Tlaxcallan. Collective action theory provides a useful framework to understand these differences in market development. We argue that Tlaxcaltecan political architects adopted more collective strategies, in which open markets figured, to encourage cooperation among an ethnically diverse population.

In 1905, world-renowned bullfighter Luis Mazzantini arrived in Guatemala City for a number of corridas. Despite the excitement of the urban elite, the matador's fights were poorly attended by the working class due to high ticket prices. This article uses the ‘Mazzantini Season’ as a case study of working-class consumer culture in Guatemala City to trace shifts in Guatemalan political economy through the 1890s and early 1900s, analysing the constraints on popular consumerism such as price inflation, currency deflation, food shortages and other factors affecting working-class urban Guatemalans. It also demonstrates the manner in which responses by the state and coffee planters to economic crises to protect elite interests fundamentally undermined the ability of working-class residents of Guatemala City to participate in consumer culture.

By the end of the nineteenth century, railway expansion had led to the formation of a technocratic bureaucracy in Chile and other countries in Latin America. Central to this formation were the engineers who oversaw and regulated both public and private railways. Recently, historians have begun to re-examine engineers’ roles in this period. By employing methods and theoretical framings from the history of technology, this article argues that engineering was an important framework through which state–capital relations evolved, making engineers pivotal actors in the evolution of political economy at the time.

At a general level of neoliberal repudiation or expansion of social policies, most post-neoliberal Latin American governments in the 2000s have exhibited similarities. However, coalitions with popular actors have displayed a lot of variation. In order to compare popular-sector coalitions the article constructs a framework with two central dimensions: electoral and organisational/interest; in post-import substitution industrialisation (ISI) Latin America the latter is composed of both unions and territorial social movements (TSMs). It contends that the region witnessed four types of popular coalitions: electoral (Ecuador and Chile), TSM-based (i.e. made up of informal sector-based organisations, Venezuela and Bolivia), dual (i.e. composed of both unions and TSMs, Argentina and Brazil) and union/party-based (Uruguay). The study argues that government–union coalitions are largely accounted for by the relative size of the formal economy, and by the institutional legacies of labour based-parties. Coalitions with informal sector-based organisations are rooted in the political activation of these TSMs during the anti-neoliberal struggles of the 1990s and early 2000s.

This article explores how late eighteenth- and early nineteenth-century ideas of the Spanish American consumer took shape. It argues that Atlantic debates on consumption, on the one hand, and on racial difference, on the other, provided a common ground on which foreign visitors, diplomats and commentators, as well as Colombian elite intellectuals, could jointly create a positive idea of the Spanish American consumer. The article demonstrates that, in the eyes of those who had either political or economic interest in the region, it was possible for Spanish American Indians, Blacks and ‘mixed races’ to gradually overcome their ‘backwardness’ by adopting new practices of consumption. The consumption of new necessities by the Spanish American popular sectors became, for many of these commentators, an irrefutably civilising force.

This article explores the international expansion of Mexican banks and its implications for the domestic banking system during the decade leading up to the 1982 debt crisis. In contrast to the prevalent focus in the literature on profitability and performance, I examine the asset and liability structure of the banking sector and show that there were clear signs of deterioration in its financial condition well before the onset of the crisis. Financial statement analysis reveals that the banks engaged in international lending and foreign funding were the ones with the greatest propensity to be adversely affected by this problem. The international expansion of Mexican banks emerged and developed as an exit option to domestic funding problems and increasing competition from foreign bank loans, in a context of growing needs for financing and foreign exchange in Mexico.

Over the last few years, the idea that some of the central problems of Latin American development are a consequence of the excessive power of the elites has regained influence. Nevertheless, this neoinstitutionalist approach has been criticized because of its excessive determinism and the fact that it doesn’t pay enough attention to the periods when elite’s power was eroded. The present paper analyzes one of these cases, which occurred in Chile between 1913 and 1973. The income share of the top 1% is used as a proxy for the elite’s power. New quantitative evidence on incomes for different groups –the 1% and wage earners– is integrated into an analytic narrative on the conflictive relation between the elite and other political and social actors.

The foundation of specialised economic journals was one of the main traits in the process of institutionalisation of political economy in 19th century Western Europe. Spain joined this trend at an early stage and in the 1850s and 1860s some specialised, albeit ephemeral, journals sponsored by the liberal school of economic thought – the Economist School – emerged. However, when these reviews ceased publication, Spanish economists lacked specialised periodicals as an outlet for their contributions. Miscellaneous literary reviews addressing a wider audience represented an alternative for the diffusion of economic papers into educated society, sharing space with many other scientific and literary disciplines. This paper analyses the presence of texts on political economy in four of the most important of these reviews in the period 1868-1914, when Spain lacked economic publications. In spite of not being specialised reviews, these publications played a central role in the process of diffusion and popularisation of political economy as a valuable field of knowledge, acting as a good substitute for specifically economic journals.

In recent theories of comparative development, the role of institutional differences has been crucial. Yet, what explains comparative institutional evolution? We investigate this issue by studying the coffee exporting economies of Latin America. Although homogeneous in many ways, they experienced radically different paths of economic (and political) development, which is conventionally traced to the differential organization of the coffee industry. We show that the different forms that the coffee economy took in the 19th century was critically determined by the legal environment determining access to land, and that different laws resulted from differences in the nature of political competition and the backgrounds of political elites. Our analysis suggests that explanations of institutional differences that stress economic fundamentals can only be part of the story. At least in the economies that we study, while geography, factor endowments and technology are clearly important, their implications for the institutional structure and thus development are conditional on the form that political competition takes in society. For interesting variations in economic outcomes, endowments are not fate.

In late 1807, Brazil was still a part of the Portuguese empire. As a consequence of the outbreak of the Peninsular War, the Prince Regent and the court moved to Brazil, an amazing voyage planned as a way of safeguarding Portugal's sovereignty over her vast territories. When the royal ships arrived in Brazil, the first measure to be taken was the decree which opened up Brazilian ports to British commercial vessels, thus putting an end to the old system of exclusive colonial trading between Brazil and Portugal. This was indeed the very first sign of a much larger process of economic liberalisation that was shortly to follow. In this process, a special role was to be played by the science of political economy used as a rationale for economic change and ultimately serving as an instrument for political independence.