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By the end of the nineteenth century the cattle industry in northern Mexico was thriving. Large haciendas, based on the peonage system and many of them foreign-owned, produced hundreds of thousands of head of cattle that enriched hacendados and filled ranges in both Mexico and the United States. But the Revolution of 1910 overturned Mexico’s social and economic structure, and by the 1920s large holdings were being broken up and almost 70 percent of the vast herds were gone. Machado examines the devastation of the revolutionary period, when herds were slaughtered to feed armies or appropriated for sale to finance arms and munitions; the slow climb back after the Revolution when changes in land tenure and limits on herd size made reinvestment risky; and more recent problems with disease control, which required and eventually received cooperation between Mexico and the United States. The conflicts and compromises between agrarian radicalism and the basic conservatism of the norteño cattle industry, between institutionalizing reform and independent enterprise, and between Mexican nationalism and close economic ties with the United States are thoughtfully delineated.
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Robert Pearson
reviewed North Mexican Cattle Industry, 1910-1975: Ideology, Conflict, and Change on July 07, 2012 North Mexican Cattle Industry, 1910-1975: Ideology, Conflict, and Change
"Financialization would remove the bar between the two terms [micro and macroeconomics] making global movements of finance intimate with daily life."
That is Randy Martin's mordant conclusion, which, although tempered with good insights into late capitalism, is overall bleak and gray in tone.
He has a nice recontextualization of economics terms, micro and macro. He writes they are usually thought of as personal and national, but they can be more accurately thought of as (microeconomic) process and (macroeconomic) structure.
He talks about securitization of the labor market (Shiller) and reputations (David Bowie offering bonds on his future output), and about Jeff Gates' communitarian ownership solution. If you are confused about these terms, understand that they are financial metaphors which have colonized the spaces normally reserved for person considerations.
He says financialization, like globalization but more personal, has effected four main areas of human life: our perceptions of history, of geography, of self, and of time passing.
Martin's book is bleak and communistic, a visit to a kind of vacuous intellectual Leninism which will never die, so long as dissatisfaction is on earth.
His conclusion:
Wealth brings discontentment.
But I should rather suppose that Randy Martin is viewing the world through discontented eyeglasses.
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