themagadon
Gold Member
- Aug 14, 2023
- 320
- 301
- 158
- Banned
- #21
We hear the term "banana republic" used lately to describe the United States. Here is the definition and history of the term:
A banana republic is a term used to describe a politically and economically unstable country with an economy dependent upon the export of natural resources1. The term was coined by the American writer O. Henry in 1904 . Typically, a banana republic has a society of extremely stratified social classes, usually a large impoverished working class and a ruling class plutocracy, composed of the business, political, and military elites. The ruling class controls the primary sector of the economy by way of the exploitation of labor; thus, the term banana republic is a pejorative descriptor for a servile oligarchy that abets and supports, for kickbacks, the exploitation of large-scale plantation agriculture, especially banana cultivation. A banana republic is a country with an economy of state capitalism, whereby the country is operated as a private commercial enterprise for the exclusive profit of the ruling class. Such exploitation is enabled by collusion between the state and favored economic monopolies, in which the profit, derived from the private exploitation of public lands, is private property, while the debts incurred thereby are the financial responsibility of the public treasury. Such an imbalanced economy remains limited by the uneven economic development of town and country and usually reduces the national currency into devalued banknotes (paper money), rendering the country ineligible for international development credit.
A banana republic is a term used to describe a politically and economically unstable country with an economy dependent upon the export of natural resources1. The term was coined by the American writer O. Henry in 1904 . Typically, a banana republic has a society of extremely stratified social classes, usually a large impoverished working class and a ruling class plutocracy, composed of the business, political, and military elites. The ruling class controls the primary sector of the economy by way of the exploitation of labor; thus, the term banana republic is a pejorative descriptor for a servile oligarchy that abets and supports, for kickbacks, the exploitation of large-scale plantation agriculture, especially banana cultivation. A banana republic is a country with an economy of state capitalism, whereby the country is operated as a private commercial enterprise for the exclusive profit of the ruling class. Such exploitation is enabled by collusion between the state and favored economic monopolies, in which the profit, derived from the private exploitation of public lands, is private property, while the debts incurred thereby are the financial responsibility of the public treasury. Such an imbalanced economy remains limited by the uneven economic development of town and country and usually reduces the national currency into devalued banknotes (paper money), rendering the country ineligible for international development credit.
Please excuse the rest of us for not dealing with it until Teflon Don is convicted.
