9781422286869

Finding a Financial Balance: The Economy of Mexico

Porfirio Díaz presided over Mexico from 1876 to 1911. He influenced many aspects of Mexican life, but his focus was on the economic development of the country.

during this time the country became more industrialized. Díaz encouraged the construction of manufacturing facilities and the expansion of mining and other industries that utilized Mexico’s natural resources. He improved transportation throughout the country, as railroads, shipping ports, and other infrastructure was built. During his rule a modern

12

banking system was implemented, and companies from the United States, Great Britain, France and other countries invested in Mexican factories and businesses. The period of Mexican history from 1876 to 1911—often referred to as the “Porfiriato”—brought economic stability and growth to the country. Unfortunately, Díaz’s economic policies predominantly helped the upper class of Mexican society, the criollos who were of European descent. Many of these people owned large areas of land, known as haciendas . Most Mexicans were poor

farmers who did not have their own land and had to work on the haciendas, or in other low-paying occupations like mining. They saw no opportunity to improve their lives under Díaz’s rule.

The term that a Mexican president serves is called a sexenio . This means that the president

will be in office for six years.