Prior to the Revolution of 1910, Americans were flooding Mexico looking and finding good-paying jobs. The peso was valued at about $1.87 USD, and gold then selling for about $28.00/ounce. Mexico still has all the resources that made her a greater economic power than the US. Mexican factories are paying the equivelent of 10-25 dollars/hour (the peso in Mexico has greater bying power than the dollar in the US, so please do not compare apples to oranges). As a former resident (non-citizen) of Mexico-and ex still lives there and is a native citizen, I have seen this to be true. In addition, ex-President Fox stated that Mexico is 100,000 men short of workers in the factories in the northern tyre of Mexican states, jobs which are paying unskilled workers up to $25.00 (pesos) an hour. Yet, in many areas, people are starving and the government is blaming la vida loca and greedy Americans.
2007-05-23 00:00:02 · 2 answers · asked by redskin 2 in Social Science ➔ Economics
Mexico's GDP per capita was about 1/4 of the US's in 1900 and it still is. http://www.nationmaster.com/graph/eco_gdp_per_cap_in_190-economy-gdp-per-capita-1900 The opportunities that "Americans" saw in Mexico in 1910 could not have been due to an overall more productive economy. I am some what skeptical of your claim that there is an abundance of well paying jobs in Mexico, because why then would so many come to the US to work at low paying jobs with US cost of living..
2007-05-23 05:41:00 · answer #1 · answered by meg 7 · 0⤊ 0⤋
You have to look at the leadership and the society itself. The inner infrastructure and economy is never stable enough to grow. Needs "another" revolution and a dictator. That's the only way these countries seem to operate well. Look at Saddam. He controlled that country of many facets. I'm certainly not a fan of his but the western world have failed miserably where he succeeded. Albeit in his own way.
2007-05-23 00:57:39 · answer #2 · answered by Anonymous · 0⤊ 1⤋