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The video explores the topic of "Prosperidad Falaz," or false prosperity, in Peru during the late 19th century. The era was characterized by economic growth, foreign investment, and exploitation of natural resources and labor, mainly driven by the booming exportation of guano. However, the wealth generated was mostly enjoyed by the wealthy criollo class, leaving the lower classes neglected. Furthermore, the government's excessive spending on state bureaucracy and failing to invest in infrastructure led to enormous external debt, perpetuating the debt cycle. The video also highlights the corruption and scandal surrounding the consolidation law and the emergence of wealthy consignees who invested in profitable businesses like sugar and cotton estates, leading to the formation of Peru's oligarchy of the 20th century. The era of prosperity ultimately ended with the declaration of war on Peru by Spain and the country's inability to repay its debts.
The video discusses the history of Spain's colonization of Ecuador, Peru, Bolivia, and Chile, as well as the Spanish scientific expedition to South America. Spain needed colonies to obtain resources to develop its industries, but couldn't come to America openly due to opposition from countries like Peru and the United States. Therefore, they sent a scientific expedition disguised as a peaceful expedition. The video also discusses how Peruvians sold guano to a French entrepreneur who paid them a monthly sum of money that kept building on the debt, leading to more fiscal mismanagement. The Peruvian government then gave access to foreign companies for the mining of saltpeter, which led to the formation of the first political party in Peruvian history, the Civil Party, and ultimately the War of the Pacific.
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