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The political instability consequent to the coup d'état stalled the Honduran economy, and the unpayable external debt (c. US$4 billion) of Honduras was excluded from access to international investment capital. That financial deficit perpetuated Honduran economic stagnation and perpetuated the image of Honduras as a banana republic. [16]
Corporatocracy [a] or corpocracy is an economic, political and judicial system controlled or influenced by business corporations or corporate interests. [ 1 ] The concept has been used in explanations of bank bailouts , excessive pay for CEOs , and the exploitation of national treasuries, people, and natural resources . [ 2 ]
In American literature, the term banana republic originally denoted the fictional Republic of Anchuria, a servile dictatorship that abetted, or supported for kickbacks, the exploitation of large-scale plantation agriculture, especially banana cultivation. [33] In U.S. politics, the term banana republic is a pejorative political descriptor ...
The US government supported the 1971 coup led by General Hugo Banzer that toppled President Juan José Torres of Bolivia. [9] Torres had displeased Washington by convening an "Asamblea del Pueblo" (Assembly of the Town), in which representatives of specific proletarian sectors of society were represented (miners, unionized teachers, students, peasants), and more generally by leading the ...
The term "banana wars" was popularized in 1983 [2] by writer Lester D. Langley. Langley wrote several books on Latin American history and American intervention, including:The United States and the Caribbean, 1900–1970 and The Banana Wars: An Inner History of American Empire, 1900–1934. His work regarding the Banana Wars encompasses the ...
Banana Republicans: How the Right Wing Is Turning America Into a One-Party State is a book by Sheldon Rampton and John Stauber of the Center for Media and Democracy. [1] It was published in 2004.
Michael Albert (born April 8, 1947) is an American economist, speaker, writer, and political critic. Since the late 1970s, he has published on a variety of subjects. He has set up his own media outfits, magazines, and podcasts.
The U.S. did not need to use its military might in Guatemala, where a series of dictators were willing to accommodate the economic interests of the U.S. in return for its support for their regimes. [8] Guatemala was among the Central American countries of the period known as a banana republic.