Econ267s: Difference between revisions
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''' | #''' Formation of a Petroleum Economy''' | ||
#*Before the installation of the petroleum industry, Venezuelans lived by agriculture. | #*Before the installation of the petroleum industry, Venezuelans lived by agriculture. | ||
#*Tachira liberals, dominant in the Andes Mountains, gained control of the central government in 1899. | #*Tachira liberals, dominant in the Andes Mountains, gained control of the central government in 1899. | ||
Revision as of 21:35, 29 April 2006
- Formation of a Petroleum Economy
- Before the installation of the petroleum industry, Venezuelans lived by agriculture.
- Tachira liberals, dominant in the Andes Mountains, gained control of the central government in 1899.
- Juan Vincent Gomez (1908-1935) presided over the transformation of Venezuela from an agricultural economy to a petroleum republic.
- Gomez took control of the government during a coup in 1908 that threw out Cipuano Castro.
- Gomez appointed economic ministers that had the same view as his. During the thirties, the government revamped the currency so it would favor capitial goods (petroleum) and so it would help eliminate the old agricultural economy. Gome also reestablished diplomatic relations with different world powers that Castro offended, including the United States.
