South America's abundant resources provide the basis for a comparison between contemporary growth and an earlier export boom. Fleet places that earlier expansion from the late 1890s into the late 1910s, followed by economic crashes. He argues that the newer boom rests on resources that are absent elsewhere or more expensive to extract. His expectation is that South American countries are exploiting this opportunity more sustainably than during the earlier cycle.
Notable Point · 1:03:11-1:03:55
Comparing South America's resource booms
A comparison of South American resource booms considers whether contemporary growth can avoid the crashes that followed expansion around the turn of the twentieth century.