In the present document is a short essay about of two of the major economic crisis that has marked the history of contemporary Mexico. The two of them happening in less than a decade and built the road that the modern Mexico will have to ride. As a way to describe, co-relate and explain the two depressions and devaluation, is very important to talk about thebad decisions and the excesses in political corruption that the two governments took. So this essay will cover and describe the presidential periods of Luis Echeverria and José Lopez Portillo.
Krauze, one of the most important writers about politics and history, describe the periods of Echeverría and Lopez Portillo like one of excess in political matters. Describe the two governors as Mexicanmonarchs because of the way the two Mexican Presidents feel about the time they were sitting of the presidential chair, as if it was the throne of his kingdom.
The importance of the matter of studying the Economic Crisis is because that every student must know about the history of his country, the process and the decision that were made and taken, to be able to understand the actual positionthat we are in the present because “The one who does not possess a good understanding of his past, cannot comprehend his present and, thus, cannot build his future".
*The *populism* of *Echeverria
Echeverria took the control of the country in a very unstable social situation. The massacre of students 1968 left the government in a bad position in front of the people. So, according to Krauze,Echeverria made a long campaign for all over Mexico to promote his vote, like never seen before in any other candidate, like if it was not obvious that the decision of him becoming the next president was already taken. In this way, even before he get into the Presidency, Krauze let us know how excessive in the way of taking unnecessary measures to like the people, was going to marked the nextpresidential period.
When Echeveria got into the power, he tries to separate his image from his predecessor Díaz Ordaz, so he hired a lot of young people to be his ministers, all of them inexperienced. So he left the country in hands of people who had the studies but really did not know what to do. He tried to make an image of himself as a student and youth friendly, but real self come when themassacre of corpus Christy happened. This violent measure taken against the students and other movement was called as the ‘Guerra Sucia’.
Krauze says that Echeverría tried to become the mediator between the new third world country and the industrial countries. He travelled the world with a lot of eccentricities to try to make a fame of his name, something that really never happened. In an obviousway, he was criticized worldwide for the contrast of decision taken, being friendly with the socialist parties in other countries, like with Allende, but at the same time trying to be friends with the capitalist powers. Besides, he tried to managed the image of freedom thinking but he was putting down after globally accused of the student massacre.
The populism has its cost
Along thepresidency of Echeverria, the populism was a very strong characteristic of the period. Echeverria expand the spending of Mexico’s bureaucracy, incrementing the offices and jobs that people can make in the government. The public spending increased too, creating of bulding work in alike of the people.
Globally was a rough year for the economy. The failed in the Vietnam war started to have itsrepercussions in the United States economy who was reflected in other countries. Worldwide, the oiled prices started to increase too, therefore the prices of the products increased making bigger the Mexico’s debt.
The debt obtained because of the public spending growth along with the external crisis, but Mexico’s government decided to hide it for awhile until the end of the presidential period, moment...