Word: northamerican
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Dates: during 1970-1979
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...emergence of a significant internal market that could encourage industrial development. The average Nicaraguan can afford at most two changes of clothes--little incentive for a flourishing textile industry. Even the small middle class--the more successful small shopkeepers, the few white collar employees--wield little spending power by Northamerican standards. As a consequence, the few necessary manufactured goods and all capital goods are imported, also largely from the United States. Luxury goods are concentrated, of course, in the few lavishly wealthy homes. The poor are trapped on the edges of a sluggish and static economy that can neither employ...
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