South American Haciendas
In South America, the hacienda remained after the collapse of the colonial system in the early nineteenth century. In some places, such as Santo Domingo, the end of colonialism meant the fragmentation of the large plantation holdings into a myriad of small subsistence farmers' holdings, an agrarian revolution. In Argentina and elsewhere, a second, international, money-based economy developed independently of the haciendas which sank into rural poverty.
In most of Latin America the old holdings remained. In Mexico the haciendas were abolished by law in 1917 during the revolution, but remnants of the system affect Mexico today. In rural areas, the wealthiest people typically affect the style of the old hacendados even though their wealth these days derives from more capitalistic enterprises.
In Bolivia, haciendas were more prevalent until the 1952 Revolution of Victor Paz Estenssoro which established an extensive program of land distribution as part of the Agrarian Reform. Peru had haciendas until the Agrarian Reform (1969) of Juan Velasco Alvarado, who expropriated the land from the hacendados and redistributed it to the peasants.
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