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Economic Development of Central America Econ. 4200 - Spring 2004 – Dr. Taylor - page 76 / 153

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Note: In Nicaragua Somoza continued increasing his personal fortune through his talents as a gifted and unscrupulous politician. Still, in 1956 the elder Somoza was assassinated in Leon and there followed a relatively smooth transition to his son: Anastacio Somoza Debayle (younger of two sons and trained at West Point).

Note: In the 25 years between 1930 and 1955 there was a shift in the pattern of power in Central America. Away from economic structures defining politics to a pattern where political developments resulted in changes in the state and consequently the economy. This was the result of…

1. Reaction of propertied classes to the Depression.

2. Changes in production and demography caused an emergence of new political constituencies.

3. External concept of economic development… static and neoclassical. Not only US but UN, World Bank, etc.

4. The Cold War: Central American became part of the front line to the North Americans.

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