The Economy of Bolivia
Silver, Tin and Extractive History
Potosí's silver funded the Spanish empire, and later tin mining shaped Bolivia's economy and politics.
A resource story with a long shadow.
Cerro Rico
The silver mountain at Potosí made it one of the world’s richest cities in the 16th century.
Forced labour
Indigenous workers were forced into the mines under the mita system.
Tin
In the 20th century, tin barons dominated the economy until nationalisation in 1952.
Legacy
Boom and bust cycles left deep inequality and dependence on commodities.
A mine still working
Miners still extract minerals from Cerro Rico with basic tools.
Ignoring the human cost of extraction
Working conditions were and are harsh.
Key takeaways
- Potosí was a silver giant.
- Forced labour built wealth.
- Tin dominated later.
- Dependence has persisted.
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