Post by Emperor AAdmin on Dec 2, 2021 11:18:45 GMT -5
What are "Banana Republics"?
Balkan Odyssey 57.6K subscribers
Banana Republics. You may’ve head of this odd once or twice before, if not in my videos, then elsewhere where there is talk about geopolitics.Wikipedia offers a very good definition, namely - “In political science, the term banana republic describes a politically unstable country with an economy dependent upon the exportation of a limited-resource product, such as bananas or minerals.”.
Unfortunately, this definition is quite narrow and doesn’t tell us the whole story. I mean, there’s nothing bad about exporting bananas and similar products to keep the economy running, yet you may have heard me using the term in a very negative light. And I have a very good reason to do so. Namely, such a country is one whose economy operates through state capitalism, whereby it’s resources and population are operated as a private commercial enterprise for the exclusive profit of the ruling class.
For diehard endorsers of capitalism, such countries may come off as a rare anomaly, as some third world Central American nations whose economies had historically been ravaged through colonialism and slavery. And you would be right in your assumption about the origins of this phrase, as it was first coined by the American writer O. Henry, who used it to describe a fictional location in his book “Cabbages and kings”. based on his experiences in Honduras.
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