The Open Veins of Latin America by Eduardo Galeano

The Open Veins of Latin America: Five Centuries of the Pillage of a Continent by Eduardo Galeano is a history book published in 1971.

Latin America has long existed at the service of others, providing raw materials like oil, iron, copper, meat, fruit, and coffee to wealthier nations who profit more from consuming them than Latin America does from producing them. Even as far back as 1913, US President Woodrow Wilson remarked on how Latin American economies were forced to cater to the needs of foreign capitalists.

This exploitation is the core idea of The Open Veins of Latin America. Since the time of the European conquests, wealth from the region has continuously flowed into the hands of distant powers, first to Europe and later to the United States. The drain of resources isn’t just external; smaller nations or regions are often oppressed by their larger neighbors. This dynamic has entrenched inequality across the region, both locally and globally.

Purchase the book by clicking this link!

Enjoy!

PART I: MANKIND'S POVERTY AS A CONSEQUENCE OF THE WEALTH OF THE LAND
PART II: DEVELOPMENT IS A VOYAGE WITH MORE SHIPWRECKS THAN NAVIGATORS
- Tales Of Premature Death
- The Contemporary Structure of Plunder

PART I: MANKIND’S POVERTY AS A CONSEQUENCE OF THE WEALTH OF THE LAND

Lust for Gold, Lust for Silver

Colonization of the Americas
- In 1492, Spain completed the Reconquista and expanded to the Americas
- Pope granted Spain and Portugal rights to exploit the Americas
- Conquistadors evolved into governors establishing colonial territories to exploit
Extraction & Destruction
- Civilizations were destroyed, cities razed, and structures built on sacred sites
- Potosí (silver city) passed London and Rome in size
- 185,000 kg of gold and 16,000,000 kg of silver were taken (3x Europe’s reserves)
- Relentless frenzy for riches led to systematic torture and enslavement
Economic Impact on Europe
- Most wealth didn’t benefit Spain/Portugal but went straight to foreign creditors
- Remainder was squandered on goods/churches rather than development
- Economic decline for Spain, colonial trade fed European capitalism instead
Long-Term Consequences
- Destroyed landscapes and indigenous societies
- An estimated 90% of native populations were killed
- African slavery increased, with 10 million Africans forcibly brought to Brazil alone
- Legacy of entrenched poverty, ecological damage, and deep inequality

King Sugar & Other Agricultural Monarchs

Cash Crops
- Sugarcane, cocoa, cotton, coffee, rubber became central to European commerce
Impact
- Foreign powers saw exploitable land & cheap (slave) labor → all cultivable land was used for cash crops → no land for growing food (literally imported the food)
- Wealth continuously flowed OUT of Latin America
- Widespread poverty & food insecurity followed
Environmental Degradation
- Forests were cleared & burned for these crops & degraded soil fertility
- Barren land was now unable to sustain local food production
Dependency from Global Markets
- Countries reliant on 1-2 cash crops are vulnerable to price shifts
- Independence didn’t change dependency; feudal systems continued as landowners raked in money from foreign powers
- When threatened, foreign powers would invade to protect their interests
  - US seized Panama, forced labor in Haiti, supported dictators in Nicaragua, bombed cities in Guatemala, annexed half of Mexico

The Invisible Sources of Power

US Need
- US relies heavily on Latin American minerals (zinc, copper, petroleum, aluminum)
- No matter tech advances, still need the basic minerals
Economic Control
- Foreign powers maintain control through loans, influence over exports, and government intervention
Exploitation
- Mining replaced plantations, but profits still flowed to foreign corporations
- Miners earn a fraction of workers in developed nations, while facing extreme hazards
Costs of Mining
- Severe environmental destruction, air and soil pollution affects local health
- Example – Bolivia mining towns
  - 50% infant mortality, age expectancy 35, lose smell/taste within few years due to breathing ash, only make it thru the day with coca leaves
  - Average home is a 1-room dirt hovel where kids have to watch their parents have sex and 60%+ of cross-sex siblings sleep together
US Control
- Latin American dependence on only a few products (oil, bananas, etc) make it vulnerable to US corporate manipulation
- Drop prices to enforce compliance

PART II: DEVELOPMENT IS A VOYAGE WITH MORE SHIPWRECKS THAN NAVIGATORS

Tales Of Premature Death

Post-Independence Free Trade
- Independence reduced regulations
- Wealth now flowed directly to foreign nations, bypassing native industries
British Domination
- Latin America couldn’t compete with the prices of British manufacturing
- Became reliant on British goods, stalling internal development
- Rising industries, like Mexico’s textiles, faced opposition and were crushed
Attempt for Independent Economy
- Paraguay pursued self-sufficiency, building infrastructure without foreign debt
- Britain funded Argentina, Brazil, and Uruguay for a war against Paraguay, resulting in mass casualties and forced economic dependence
- All parties left indebted to British banks
Protectionism vs Free Trade
- European neglect allowed US settlers to build an independent economic base
- US protectionism policies discouraged imports, forcing local industry to develop
- Latin America embraced laissez-faire, favoring exports over local development
- US fostered internal capacity, Latin America ended with resource-draining system

The Contemporary Structure of Plunder

US taking Europe’s Place
- After WWII, Europe was rebuilding while US investment in Latin America grew
- US now controls the majority of Latin America’s capital
- Local economies largely serve US needs → wages low while profits benefit US
Limited Independence
- US corporations have special privileges, minimal taxes, and profit repatriation
- Wealth flows back to the US, NOT local economies – not “development”
Financial Exploitation
- 1960s banking boom saw even Latin American savings redirected to US
- Foreign aid conditional on contracts in US goods, while other trade is restricted
- Loans from US outflow more benefits than they bring, perpetuating debt
Global Trade Inequality
- Latin America is relegated to supplying raw materials
- High tariffs in US on finished goods prevent Latin America from manufacturing
- Regional inequality mirrors global: urban areas prosper while the rural stagnates

Check out more History posts!

Learning From Literature