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Submitted by cjcollins on March 26, 2005
Category: Business
Words: 4019 | Pages: 17
Views: 299
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Brazil and Privatization
Due February 22, 2005
Brief History
The earliest inhabitants of Brazil were the Indians. However, the country's recorded history begins with the arrival of the Portuguese in 1500. The Portuguese sailor Pedro Alvares Cabral visited the continent we call South America, eight years after Columbus arrived in America. Portuguese settlers followed, calling the new colony Brazil, after the brazilwood tree that they extracted red dye from. The Portuguese did not bring prosperity and progress to the Indians. Instead, they unintentionally infected and killed thousands of Indians with diseases such as measles and smallpox.
The growing number of settlers spurred the exploration of Brazil. Frontiersmen called bandeirantes established Brazil's claim to lands in the west. Their main purpose was to search for slaves and gold. They found gold in Minas Gerais in 1693, setting off a gold rush that drew thousands of settlers to Brazil's center.
During the 1500s and 1600s, five million African slaves were brought to Brazil to work on the sugarcane plantations. The slaves did not submit willingly to their fate. Many escaped and formed independent colonies called quilombos. After Brazil gained independence, a movement to end slavery slowly grew. Slavery was abolished in 1888. Brazil was the last country in the Western Hemisphere to abolish slavery.
Brazil was declared independent of Portugal in 1822 and became republic in 1889. Since then the country has been run by democratic governments and by military governments. Brazil today is a democratic republic with a president.
In the 1950's, extensive amounts of money were spent on building hydroelectric plants, highways and other economic projects. This set the stage for future growth, but also brought economic problems by putting the nation into debt. In the 1970s industry grew and provided thousand of...
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