,P>T #b 
,! ,*ANG+ ,FACE ( ! ,9/ITUTIONAL ,REVOLUTION 

,PEOPLE 3 

,AU?OR 3 ,AUFHEB5 

,TEXT 3 

,P>T #b3 ,! ,*ANG+ ,FACE ( ! ,9/ITUTIONAL ,REVOLUTION 

,RADICAL SOCIAL DEMOCRACY TO ! RESCUE 

,IT WAS NOT UNTIL #aica ?AT LABOR'S REPRES5TATIVES W]E FULLY 9CORPORAT$ 9TO ! /ATE4 ,?IS ACCEPTANCE ( ! WORK+ CLASS AS ! WORK+ CLASS1 AS A POT5TIALLY ANTAGONI/IC CLASS :O MU/ BE BR\<T 9TO ! FOLD TO NEUTRALIZE !IR REVOLUTION>Y IMPULSES1 IS ! BASIS ( ! SOCIAL DEMOCRACY ! ,MEXICAN B\RGEOISIE UTILIZ$ = DECADES4 7,AS LATE AS #a#i#h#h1 ,PRESID5T ,SAL9AS C\LD /ILL TRUMPET ! '9DE/RUCTIBLE PACT BETWE5 ! ,REVOLUTION>Y GOV]NM5T & ! WORK+ CLASS4'7 

,) ITS PROXIMITY TO1 & 9TEGRATION )1 ,U,S CAPITAL1 ,MEXICO WAS PR(\NDLY AFFECT$ BY ! ,WALL ,/REET ,CRA%4 ,BY #aicd ! B\RGEOISIE HAD COMPREH5SIVELY FAIL$ TO RE/ORE /ABLE CLASS RELATIONS = ! ACCUMULATION ( CAPITAL4 ,EXAC]BAT$ BY ! ,DEPRESSION & ! MILITANT RECOMPOSITION ( BO? ! PEASANTRY & ! PROLET>IAT1 REVOLUTION>Y *ANGE FROM BEL[ WAS ONCE MORE ON ! AG5DA4 ,IF ,AM]ICAN CAPITAL-9-G5]AL WAS N[ RELUCTANTLY GO+ ALONG ) ! ,NEW ,DEAL1 ! SOLUTION TO ! CRISIS 9 ,MEXICO HAD TO BE F> MORE RADICAL4 ,MO/ 9DIVIDUAL ,MEXICAN CAPITALS RECOGNIZ$ ! OBJECTIVELY HI<] LEVEL ( CLASS /RUGGLE4 ,! NI<TM>E ( #aiad HAUNT$ !M MORE ?AN EV]4 ,AS SU* ! ,MEXICAN RUL+ CLASS'S RADICAL SOLUTION TO ! CRISIS OP5$ UP ! POSSIBILITY ( FO/]+ A MOVEM5T ?AT W\LD NOT GO HOME :5 IT WAS TOLD TO1 ?AT C\LD DEVELOP 9 ITS [N DIRECTION & RUPTURE =EV] ! FABRIC ( B\RGEOIS SOCIETY4 

,?IS RADICALIZ$ =M ( SOCIAL DEMOCRACY CAME ?R\< ! CONDUIT ( ,LAZ>O ,C>D5AS1 ,PRESID5T FROM #a#i#c#d-#d4 ,HIS FIR/ & MO/ IMPORTANT TASK WAS TO SIGN A PACT ) ! NEW ,C,G,O,C,M 7,CONF$]ATION ( ,WORK]S & ,PEASANTS74 ,BY #aice HALF ( ALL ,MEXICO'S ORGANIZ$ WORK]S W]E 9 ,C,G,O,C,M & /RIKES W]E GO+ ?R\< ! RO(4 ,C>D5AS IMM$IATELY RECOGNIZ$ ! RI<T TO /RIKE1 P\R$ MONEY 9TO ,C,G,O,C,M PATRONAGE & %IFT$ ! SYMPA?Y ( ! /ATE'S LABOR RELATIONS BO>DS AWAY FROM ! EMPLOY] & T[>DS ! WORK+ CLASS AS REPRES5T$ BY ! UNIONS4 ,9 #aicf ,C,G,O,C,M WAS R5AM$ ! ,C,T,M 7,CONF$]ATION ( ,MEXICAN ,WORK]S7 & RECOGNIZ$ AS ! (FICIAL NATIONAL LABOR MOVEM5T4 ,! HI<PO9T ( ! RADICAL SOCIAL DEMOCRATIC PROJECT CAME 9 #a#i#c#h1 ) ,C>D5AS'S NATIONALIZATION ( ! L>GELY ,U,S-[N$ OIL 9DU/RY4 ,C>D5AS MANIPULAT$ ! 5?USIASM = ?IS MEASURE TO G5]ATE A SPIRIT ( 'NATIONAL UNITY'1 :I* HE !N US$ TO CRU% ! 9SURG5T WORK]S' MOVEM5T4 

,IT WAS NOT ONLY ! CITIES ! RADICAL P>TY-/ATE HAD TO ATT5D TO 9 ORD] TO PREV5T SOCIAL REVOLUTION BREAK+ \T4 ,! C\NTRYSIDE HAD IGNIT$ & SU/A9$ ! ,REVOLUTION1 & C\LD DO SO AGA94 ,C>D5AS'S SOLUTION WAS A MASSIVE R$I/RIBUTION ( L& ! LIKE ( :I* SOCIAL DEMOCRACY 9 ,MEXICO HAS NOT BE5 COMPELL$ TO REPEAT4 ,NATURALLY ONLY ! WOR/ L& WAS P>CEL$ \T -- ! PROP]TY & 9T]E/S ( ! HAC5DADOS LEFT 9TACT4 ,:ILE ! ,C>D5AS RE=MS APPE>$ IMPRESSIVE1 !Y NOT ONLY PRES]V$ SOCIAL RELATIONS 9 ! RURAL >EAS1 !Y BOL/]$ & EXP&$ COMMODITY RELATIONS BY CREAT+ A NEW CLASS ( SMALL L&[N]S4 ,= ! VA/ MAJORITY A SMALL PAT* WAS UNSU/A9ABLE & SEASONAL WAGE-LABOR UNAVOIDABLE4 ,! ULTIMATE RESULT ( ! L& RE=MS WAS M>G9ALIZATION = ! MANY1 A NEW NETWORK ( SMALL COMPETITIVE F>M+ = SOME1 & ! CONSOLIDATION ( ! LUMB]+ LATIFUNDIAS4 

,9 FACT ,C>D5AS HAD MOBILIZ$ ! WORK+ CLASS 9 P>T TO DISCIPL9E ?OSE RECALCITRANT SECTIONS ( ! B\RGEOISIE :O NE$$ TO BE SAV$ FROM !MSELVES4 ,AFT] #aid ! B\RGEOISIE AS A :OLE ACCEPT$ ! NECESSITY ( /ATE 9T]V5TION4 ,EV5 MORE CRUCIALLY1 ANY REVOLUTION>Y MOVEM5T FROM BEL[ C\LD BE M$IAT$ ?R\< ! N[-RELIABLE ,C,T,M OR ! NEW ,C,N,C 7,NATIONAL ,CAMPES9O ,CONF$]ATION74 ,AS P>T ( ! P>TY-/ATE1 !SE ORGANIZATIONS C\LD DELIV] C]TA9 CONCESSIONS1 DEFUZE PROLET>IAN & PEASANT ANG] ?R\< NATIONALI/ *ANNELS & TURN A BL9D EYE TO REPRESSION IF IT WAS NE$$4 ,! /ATE HAD SOLV$ ! CRISIS IT HAD BE5 MIR$ 9 S9CE ! FALL ( ! ,PORFIRIATO1 & IT HAS FOLL[$ ! SAME MODEL UNTIL V]Y REC5TLY3 ONE P>TY GU>ANTEE+ SOCIAL DEMOCRACY 7PEACE BETWE5 ! (FICIALLY-RECOGNIZ$ ANTAGONI/IC CLASSES74 ,UNLIKE ! WE/1 IT HAS NOT NE$$ ! %IELD ( =MAL B\RGEOIS DEMOCRACY TO DO SO4 

,! ,ECONOMY AFT] #aid 

,! ,AM]ICAN ,=DI/ MODEL ( ACCUMULATION1 :]EBY 9CREAS$ PRODUCTIVITY PAYS = HI<] WAGES1 :I* 9 TURN BOO/S DEM&1 C\LD NOT BE FOLL[$ 9 ,MEXICO4 ,! NATIVE B\RGEOISIE WAS TOO WEAK TO 9NOVATE & HAD ALWAYS RELI$ ON ,AM]ICA = HEAVY 9DU/RIAL 9VE/M5T4 ,! AGRICULTURAL SECTOR /ILL LAGG$ F> BEH9D ?AT ( ,AM]ICA4 ,:ILE ,U,S CAPITAL MAY NOT CONSCI\SLY HAVE WANT$ TO KEEP ,MEXICO UND]DEVELOP$1 IT SAW IT G5]ALLY AS FIT ONLY = NATURAL RES\RCE & LABOR-P[] EXPLOITATION4 

,MEXICO DID1 ?\<1 9DU/RIALIZE RAPIDLY AFT] #a#i#d4 ,! MODEL WAS /ATE-L$ CAPITALISM ) ITS [N ,MEXICAN PECULI>ITIES4 ,9VE/M5T 9 9FRA/RUCTURE WAS ! PROV9CE ( ! /ATE4 ,PETROLEUM1 RAIL & COMMUNICATIONS SECTORS W]E ALL UND] /ATE CONTROL1 & ! /ATE G5]ALLY C>RI$ \T ECONOMIC DEVELOPM5T :I* ! PRIVATE SECTOR ?\<T TOO RISKY4 ,! RES\RCES ( ! /ATE W]E AUGM5T$ BY HUGE =EIGN 9VE/M5T4 ,MEXICO HAS ALWAYS BE5 A NATURAL FIR/ /OP = ,AM]ICA'S =EIGN-B\ND SURPLUS VALUE2 N[ IT FLOOD$ OV] ! BORD] AS A RESULT ( ! PO/W> BOOM4 

,BY ! #a#i#fS1 ,MEXICO HAD BE5 5JOY+ ITS ECONOMIC 'MIRACLE' = SOME TIME4 ,G,D,P HAD RIS5 ON AV]AGE #f-#g.0 ANNUALLY4 ,PR(IT FL[$ 9TO /ATE C(F]S1 PAY+ = AN UN(FICIAL WELF>E /ATE ( SORTS4 ,H[EV] SOCIAL 9EQUALITY WAS REA*+ NEW EXTREMES4 ,BY #aifi ! PROPORTION ( NATIONAL 9COME GO+ TO ! POORE/ HALF ( ! POPULATION WAS ONLY #a#e.04 ,9 RURAL >EAS1 AS AGRICULTURAL ME*ANIZATION 9CREAS$ & PRODUCTIVE L& WAS CONC5TRAT$1 ! NUMB] ( UN- OR UND]EMPLOY$ WAS GO+ UP4 ,SOME1 SEEK+ TO REFUSE PROLET>IANIZATION1 MOV$ AWAY FROM ! AGRICULTURAL HE>TL&S & ATTEMPT$ TO *IP \T A LIV+ FROM B>ELY CULTIVATABLE L& -- ?IS BE+ ! OPTION MANY ,*IAPAN ,9DIANS TOOK2 MANY MOV$ TO ! CITIES TO JO9 ! RES]VE >MY & EFFECTIVELY KEPT FACTORY & WORK%OP WAGES D[N2 SOME BECAME MIGRANT WORK]S FOLL[+ ! H>VE/S ?R\< ,MORELOS1 ,OAXACA1 ,SAN ,LUIS ,POTOSI & ,V]ACRUZ4 ,/ILL O!RS CROSS$ ! BORD] 9TO ! ,U,S4.<#h.> 

,9 ! T[NS & CITIES EV5 ! ORGANIZ$ 9DU/RIAL PROLET>IAT SUFF]$ FROM L[ WAGES4 ,:ILE !Y W]E RELATIVELY WELL (F COMP>$ TO ?OSE 9 SMALL WORK%OPS OR ! UNEMPLOY$1 /RUGGL+ TO SURVIVE 9 ANY WAY ?AT !Y C\LD1 !IR WAGES W]E A FRACTION ( !IR ,U,S C\NT]P>TS'4 ,!IR UNION ORGANIZATION MILITAT$ = HI<] WAGES1 YET ?IS WAS (FSET BY ! ABSOLUTE CORRUPTION ( ! *>ROS 7UNION BUREAUCRATS71 :O W\LD (T5 SWIPE !IR MEMB]S' DUES4 ,MORE ?AN ANY?+ BE+ 9 A /RONG UNION MEANT A GU>ANTEE ( A JOB1 A BUTTRESS AGA9/ UNEMPLOYM5T4 

,H[EV]1 = ! 'PILL>S ( SOCIETY'1 ?OSE SECTIONS ( ! POPULATION 9CORPORAT$ 9TO ! P>TY-/ATE1 ! CO/S ( ! REPRODUCTION ( LABOR W]E PAID1 AFT] A FA%ION -- BY ! ',P,R,I WELF>E /ATE'4 ,IT IS DIFFICULT TO QUANTIFY1 BUT ! F>-REA*+ WEB ( ! ,P,R,I GU>ANTE$AN EXI/5CE = ?OSE SECTIONS ( SOCIETY IT NE$$ TO P]PETUATE ITSELF4 ,:E!R IT BE (FICIAL 7WAGE RISES7 OR UN(FICIAL 7BACKH&]S1 PROTECTION OR ! ELIM9ATION ( A RIVAL71 IT ALL HAD TO BE PAID =4 ,! CORRUPTION ( ! ,P,R,I WELF>E /ATE HAS C]TA9LY RET>D$ ! EFFICI5CY ( ,MEXICAN 9DU/RY1 PROMPT+ MANY MEMB]S ( ! B\RGEOISIE TO DEFECT TO ! ,P,A,N 7,NATIONAL ,ACTION ,P>TY71 ! PRO-BUS9ESS ,CA?OLIC P>TY SET UP 9 ! #a#i#cS TO OPPOSE ! ,C>D5I/ RE=MS4 

,! #aiei ,MOVEM5TS 

#a#i#e#h-#e#i SAW A SU/A9$ (F5SIVE BY ! PROLET>IAT OV] BO? WAGE LEVELS & ! CONTROL ( UNION *>ROS4.<#i.> ,IT IS DIFFICULT TO KN[ TO :AT EXT5T WORK+ CLASS SELF-ACTIVITY WAS M$IAT$2 C]TA9LY ! RAILWAYM5'S1 ELECTRICIANS' & TEA*]S' /RIKES W]E L$ BY ! ,COMMUNI/ ,P>TY1 & ALL ! IDEOLOGICAL DRAG ( ,/AL9ISM WAS PRES5T4 ,DISSID5T ,M>XI/ LEAD]S W]E ALSO PROM95T1 BUT PRESUMABLY !IR BELIEFS W]E V>IATIONS ON A !ME4 ,H[EV]1 ! FACT ?AT ! ,COMMUNI/ ,P>TY WAS PROSCRIB$ FROM #aidf TO #aigg MEANT ?AT FOLL[+ !M L$ TO AN IMM$IATE *ALL5GE TO ! LAW ( ! L&3 ! #aiei MOVEM5TS L$ FREQU5TLY TO VIOL5T CONFRONTATION ) ! /ATE4 

,CAPITAL ALSO REACT$ TO #a#i#e#i4 ,W>Y ( ! WORK+ CLASS'S PROV5 P[] OV] ! RAILWAYS1 MU* 9VE/M5T N[ %IFT$ 9TO AIR FREI<T & AUTOMOBILE PRODUCTION TO BEG9 A NEW R\ND ( ACCUMULATION -- & /RUGGLE4 

,MEXICO'S '#f#h 

,BY ! LATE #fS ! 9ABILITY ( ! ,P,R,I TO RE=M & DEMOCRATIZE ITSELF WAS APP>5T TO MANY SECTIONS ( SOCIETY1 & WAS A MAJOR CONTRIBUT+ FACTOR TO ! /UD5T REVOLT ( #a#i#f#h4 ,!SE /UD5TS W]E B5T ON GIV+ C>DIAC !RAPY TO ! CADAV] ( ! ,REVOLUTION -- DET]M9$ TO REJUV5ATE ! EGALIT>IANISM ( ! #aiag ,CON/ITUTION4 ,! MOVEM5T1 9 ITS CONC5TRAT$ PHASE ( ,JULY -- ,OCTOB] BECAME RADICALIZ$ ?R\< ITS MANY VIOL5T CONFRONTATIONS ) ! /ATE4 ,!IR NUMB]S W]E SWOLL5 BY PISS$-(F PROLET>IANS ANGRY AT ! SPECTACLE & EXP5DITURE ( ! IMM95T ,OLYMPIC ,GAMES4 ,T5 DAYS BE=E ! ,GAMES W]E DUE TO OP51 >\ND FIVE HUNDR$ /UD5TS W]E KILL$ & #b1#e W\ND$ 9 ! ,TLATELOLCO MASSACRE4 ,! >MY ATTACK1 :I* HAS BE5 M>K$ EV]Y YE> S9CE BY DEMON/RATIONS1 F9ALLY BLEW ! LID (F ! ,P,R,I'S CLAIMS TO REVOLUTION>Y LEGITIMACY4 ,IT ALSO DAMAG$ ! P>TY-/ATE 9 MORE CONCRETE WAYS3 TRADITIONALLY UNCONC]N$ AB\T US+ CLUBS & BULLETS AGA9/ WORK]S & PEASANTS1 ! ,P,R,I N[ F\ND ITSELF %OOT+ D[N MIDDLE CLASS /UD5TS -- ITS ! NATURAL CON/ITU5CY = REPRODUCTION4 

,MANY /UD5TS1 ?\<1 W]E BR\<T BACK ')9 BUDGET' AFT] A TIME 9 PRISON4 ,?OSE :O HAD MOV$ BEYOND A CRITIQUE ( ! ,P,R,I TO A WID] CRITIQUE ( CAPITALISM W]E =C$ \T ( ,MEXICO ,CITY TO T[NS & CITIES ?AT C>RI$ LESS P]SONAL RISK4 ,= ?OSE BE+ ACTIVELY PURSU$ BY ! /ATE1 ?IS MEANT DISAPPE>+ 9TO ,MEXICO'S VA/ H9T]L&S4 ,!RE IS A DIRECT L9EAGE FROM ! ,TLATELOLOCO MASSACRE TO ! MANY GU]RILLA GR\PS ?AT APPE>$ 9 ! RURAL M>G9S 9 ! E>LY #a#i#gS4 ,TA9T$ BY ! MILIT>I/ IDEOLOGY ( ,*E OR ,MAO1 !SE W]E ALL SMA%$ ) ! HELP ( ! ,C,I,A BY #a#i#g#e4 

,! E>LY #a#i#gS -- ECONOMIC CRISIS 

,& !RE WAS A NEW PROBLEM4 ,! ECONOMIC BOOM /EMM+ FROM ! 9DU/RIALIZATION PROCESS & ! ,P,R,I EMPLOYM5T PROTECTION RACKET1 :I* HAD P>TLY (FSET ! TRADITIONAL ROLE ( ! RES]VE >MY1 MEANT ! NATIONALIZ$ 9DU/RIES W]E SEV]ELY OV]MANN$ & 9EFFICI5T1 & RUN BY AN 5TR5*$ WORK+ CLASS ACCU/OM$ TO RELATIVELY HI< WAGES4 

,!Y SAY ?AT :5 ,AM]ICA SNEEZES1 ,MEXICO CAT*ES A COLD4 ,N[ MIR$ 9 ITS [N CRISIS ( ACCUMULATION1 ,AM]ICA 9 ! E>LY #a#i#gS WAS TAK+ ,MEXICO D[N ) IT4 ,AS CAPITAL 9CREAS+LY FRE$ ITSELF FROM NATIONAL B\ND>IES1 TRANS=M+ ITSELF 9TO HI<LY MOBILE F9ANCE CAPITAL1 9VE/M5T FLOOD$ AWAY FROM ! 9DU/RIAL HE>TL&S ( BO? ,NOR? ,AM]ICA & ,MEXICO TO ! ,PACIFIC ,RIM ECONOMIES4 

,! RECESSION GAVE ! B\RGEOISIE LESS SCOPE = CONC$+ ! ABOVE-9FLATION WAGE RISES ?AT HAD HEAD$ (F TR\BLE 9 ! PA/4 ,AS A RESULT ! NEGOTIAT+ POSITION ( ! *>ROS WAS CONSID]ABLY WEAK5$4 ,) ! IDEALS -- & REPRESSION -- ( ! /UD5T MOVEM5T FRE%1 ! WORK+ CLASS1 P>TICUL>LY FROM #a#i#g#c1 BEGAN A S]IES ( /RIKES1 GO-SL[S & DEMON/RATIONS4 ,JU/ LIKE #a#i#e#i1 !IR DEM&S W]E OV] WAGES & ! REMOVAL ( CORRUPT UNION LEAD]S3 A /RUGGLE = AUTONOMY ?AT RAIS$ ! POSSIBILITY ( GO+ BEYOND ! TRADE UNION =M AS SU*4 ,! MOVEM5T ORGANIZ$ NEW UNIONS \TSIDE ! ,C,T,M & =M$ CURR5TS ( RESI/ANCE )9 IT4.<#a.> ,! FACT ?AT ! WORK]S HAD (T5 TO PHYSICALLY FI<T ! *>ROS & !IR GOONS1 :O SOMETIMES US$ ! TOOLS ( DISAPPE>ANCE & ASSASS9ATION1 MEANT ?AT ! ,C,T,M C\LD EASILY & VISIBLY BE ID5TIFI$ AS ! 5EMY4 ,:ILE FEW WORK]S SEEM TO HAVE US$ ?IS AS AN OPPORTUNITY FROM :I* TO DEVELOP A CRITIQUE ( WAGE-LABOR1 !RE CAN BE NO D\BT ?AT ! MID '#gS /RIKE MOVEM5T 9CREAS$ BO? ! SELF-CONFID5CE ( ! ,MEXICAN WORK+ CLASS1 & ! S5SE ( !IR BE+ AN ANTAGONI/IC CLASS1 ! OPPOSITION TO1 & NEGATION (1 ! B\RGEOISIE4 

,! MOVEM5T REA*$ ITS HEI<T 9 #a#i#g#f4 ,! RADICAL ELECTRICIANS' UNION1 :O HAD BR\<T TOGE!R NEW UNIONS1 URBAN SQUATT] GR\PS1 & PEASANT ORGANIZATIONS TO =M ! ',NATIONAL ,FRONT ( ,LABOR1 ,PEASANT & ,POPUL> ,9SURG5CY'1 N[ CALL$ A NATIONAL /RIKE4 ,! ADM9I/RATION RESPOND$ BY S5D+ ! >MY TO OCCUPY EV]Y ELECTRICAL 9/ALLATION 9 ,MEXICO4 ,?IS WAS ONLY ! MO/ VISIBLE ( ! MANY ACTS ( REPRESSION :I* PU%$ ! NEW LABOR MILITANCY 9TO DEFEAT4 

,! /ATE ALSO RESPOND$ ) MASSIVE SOCIAL SP5D+4 ,=EIGN 9VE/M5T1 H[EV]1 WAS FLOOD+ \T ( ,MEXICO4 ,MOREOV]1 /ATE EXP5DITURE ON UNPRODUCTIVE 9DU/RIES /AFF$ BY REBELLI\S WORK]S WAS NEV] GO+ TO SOLVE ! CRISIS ( ACCUMULATION4 ,!N AN UNEXPECT$ & PROPITI\S DISCOV]Y GAVE ! B\RGEOISIE ROOM TO MANEUV] -- OIL4 

,OIL BOOM -- & BU/ 

,AS A RESULT ( ! OIL BOOM1 ! ECONOMY WAS GR[+ AT >\ND #h.0 BY ! 5D ( ! #a#i#gS4 ,NOT ONLY HAD ! DISCOV]Y ( NEW PETROLEUM DEPOSITS PULL$ ,MEXICO \T ( ! RECESSION ?AT HAD BEGUN 9 #a#i#g#c1 ! GR[? & CONCOMITANT WAGE RISES HAD S]V$ TO HEAD (F ! SN[BALL+ CLASS /RUGGLE4 

,! OIL /ILL 9 ! GR\ND (F ! ,YUCATAN P59SULA & 9 ,*IAPAS WAS US$ AS COLLAT]AL = HUGE LOANS FROM ABROAD4 ,WE/]N BANKS1 /UFF$ ) SURPLUS PETRODOLL>S AS A RESULT ( ! ,O,P,E,C OIL PRICE HIKE EAG]LY L5T \T !SE VA/ SUMS TO ,MEXICO & MANY O!R ',?IRD ,WORLD' NATIONS4 ,! LOANS W]E US$ TO COV] BO? ! TRADE & ! BUDGET DEFICITS4 

,! B\RGEOISIE ASSUM$ ! PRICE ( OIL W\LD CONT9UE TO RISE1 AS IT HAD DONE S9CE #a#i#g#c3 ! EXT5T ( !IR LOANS WAS PR$ICAT$ ON FUTURE OIL REV5UE4 ,H[EV]1 ! PRICE ( OIL DROPP$ %>PLY AFT] #a#i#g#i4 ,C\PL$ ) RIS+ 9T]E/ RATES ?AT PU%$ ! EXT]NAL DEBT EV] HI<]1 ,MEXICO 9 #aihb WAS UNABLE TO KEEP TO ITS S*$UL$ REPAYM5TS4 ,BY !N1 ! NATION [$ @s#i#b4#d BILLION1 ! ?IRD L>GE/ 9T]NATIONAL DEBT AFT] ! ,U,S & ,BRAZIL4 ,9 ,AUGU/ ( ?AT YE>1 ,MEXICO TRIGG]$ ! 9T]NATIONAL DEBT CRISIS BY DECL>+ A MORATORIUM ON ITS REPAYM5TS4 ,9 SO DO+ IT BR\<T ! 9T]NATIONAL BANK+ SY/EM TO ! $GE ( COLLAPSE4 ,WE/]N BANKS W]E SOON REFUS+ LOANS ( ANY K9D TO ! :OLE ( ,LAT9 ,AM]ICA :I* WAS CONSEQU5TLY PLUNG$ 9TO A DECADE-LONG RECESSION4 

,9 A DESP]ATE ATTEMPT TO /EM ! HEMORRHAG+ ( CAPITAL1 ! !N-,PRESID5T ,LOPEZ ,PORTILLO 9 ALMO/ HIS F9AL ACT NATIONALIZ$ ! BANKS4 ,9 SO DO+ HE FOLL[$ FIRMLY 9 ! TRADITION ( ,P,R,I ECONOMIC NATIONALI/S :O BLAME =EIGN1 & ESPECIALLY ,U,S1 CAPITAL ( BLE$+ !IR C\NTRY DRY4 ,9 FACT ! BANK NATIONALIZATION WAS ! LA/ TIME ! ECONOMIC NATIONALI/ C>D WAS BE PLAY$ ) ANY REAL CONT5T4 

,! ,LO/ ,DECADE 

#a#i#h#b-#a#i#i#b IS SOMETIMES CALL$ ! ,LO/ ,DECADE 9 ,MEXICO4 ,! /ORY IS A FAMILI> ONE3 HAV+ TO GO TO ! ,I,M,F = MONEY TO KEEP ! ECONOMY AFLOAT1 ! ,P,R,I F\ND !MSELVES OBLIG$ TO ROLL ! /ATE BACK FROM ! >5A ( CAPITAL4 ,?IS MEANT BR++ ! BUDGET DEFICIT UND] CONTROL1 REMOV+ /ATE SUBSIDIES TO 9DU/RY & AGRICULTURE1 & L[]+ WAGES 9 ORD] TO /EM ! RUNAWAY 9FLATION :I* HAD BE5 FUEL$ BY ! OIL MIRAGE4 ,/ATE 5T]PRISES W]E PRIVATIZ$ BY ! FI/FUL1 USUALLY (FLOAD$ AT BEL[ M>KET VALUE TO ,P,R,I CRONIES4 ,& #aihf SAW ,MEXICO F9ALLY JO9+ ,G,A,T,T AFT] YE>S ( PROTECTIONISM3 MANY COMPANIES W5T BANKRUPT AS A RESULT4 

,9 ,DECEMB] #aihg ! ,ECONOMIC ,SOLID>ITY ,PACT WAS SIGN$ BY REPRES5TATIVES ( GOV]NM5T1 ! UNIONS & BUS9ESS4 7,MANY ( !SE UNION LEAD]S HAD COME TO PROM95CE ?R\< ! /RUGGLES ( ! #a#i#gS74 ,RE/RA9T 9 WAGE DEM&S & PRICE CONTROLS ON CONSUM] GOODS WAS AGRE$4 ,! ,PACT WAS NO?+ LESS ?AN AN ATTEMPT TO PRES]VE ! SOCIAL FABRIC SO ?AT RE/RUCTUR+ C\LD GO AHEAD UNFETT]$4 ,BUT ITS V]Y EXI/5CE RAIS$ ! POSSIBILITY ( ITS BE+ WRECK$ BY A NEW PROLET>IAN (F5SIVE4 

,UN=TUNATELY ! T]RA9 ( /RUGGLE HAD *ANG$4 ,:ILE ! /RUGGLE = AUTONOMY 9 ! #a#i#gS HAD 5D$ AT ! TIME ( ! OIL BOOM1 CAPITAL WAS N[ 9 A MU* LESS EXPANSIVE POSITION4 ,IF ! CRISIS ( ACCUMULATION WAS TO BE SOLV$ RE/RUCTUR+ WAS ESS5TIAL4 ,! (F5SIVE ANTI-*>RO /RUGGLES ( ! WORK+ CLASS N[ BECAME PURELY DEF5SIVE & ECONOMIC4 ,AS PLANTS W]E CLOS$ OR PRIVATIZ$1 WORK]S MADE R$UNDANT OR HAD !IR WAGES L[]$1 ! /RUGGLE ORI5T$ ITSELF >\ND SECTIONAL BREAD-&-BUTT] ISSUES1 :I* 5G5D]$ FRAGM5TATION4 ,BETT]-PAID ,C,T,M WORK]S W]E /ILL RELATIVELY PROTECT$1 & ! #a#i#gS G5]ATION ( *>ROS W]E CONSEQU5TLY 9 A MU* MORE CR$IBLE POSITION TO M$IATE /RUGGLE4 ,& IF ! SITUATION BECAME DESP]ATE1 !RE WAS ALWAYS ! ALLURE ( ! ,U,S BORD] = ! DESP]ATE PROLET>IAN4 

,TWO MOM5TS FROM ! #a#i#hS 9DICATE1 H[EV]1 ?AT OV]T CLASS ANTAGONISM HAD NOT VANI%$ FROM ! ,MEXICAN L&SCAPE4 ,! FIR/ IS TO BE F\ND 9 ! WEEKS FOLL[+ ! DEVA/ATION CAUS$ BY ! #aihe ,MEXICO ,CITY E>?QUAKE4 ,) ! GOV]NM5T P>ALYZ$1 ! RESID5TS ( ,MEXICO ,CITY'S B>RIOS =M$ !MSELVES1 9ITIALLY1 9TO RESCUE & M$ICAL TEAMS1 & %ORTLY !REAFT] 9TO COMMUNITY GR\PS4 ,!SE GR\PS BO? REBUILT H\SES & PREV5T$ ! 9CURSIONS ( L&LORDS1 MANY ( :OM WI%$ TO USE ! E>?QUAKE AS AN EXCUSE TO EVICT !IR T5ANTS & REBUILD ! NEI<BORHOODS ) MIDDLE CLASS H\S+ AT MIDDLE CLASS PRICES4 ,FROM !SE AUTONOM\S WORK+ CLASS =MATIONS CAME A NETWORK ( SELF-HELP GR\PS1 GR\PS ?AT MAKE UP P>T ( :AT ! ,ZAPATI/AS CALL 'CIVIL SOCIETY'4.<#a#a.> 

,A MORE DISSIPAT$1 BUT NEV]!LESS IMPORTANT RESPONSE TO ! AU/]ITY PROGRAM WAS ! ,PRESID5TIAL ELECTION ( #a#i#h#h4 ,CUAUHTEMOC ,C>D5AS1 A R5EGADE ,P,R,I POLITICIAN1 /OOD AGA9/ ! ,P,R,I -- & 'WON'4 ,SOON AFT]W>DS HE =M$ ! ,P,R,D1 N[ ! '(FICIAL' LEFT OPPOSITION 9 ,MEXICO4 ,! ,P,R,D IS V]Y MU* OLD S*OOL ,P,R,I3 = /ATE 9T]V5TION1 9CREAS$ WELF>E1 A MEASURE ( L& R$I/RIBUTION1 AGA9/ ,G,A,T,T & ,N,A,F,T,A4 ,PRIOR TO #a#i#h#h1 ! ,P,R,I HAD ONLY TO MANAGE ELECTORAL FRAUD ON A GUB]NATORIAL LEVEL4 ,! ,C>D5AS *ALL5GE WAS SO UNEXPECT$ & SO OV]:ELM+ ?AT ! P>TY-/ATE PANICK$ & FIX$ ! RESULTS 9 ! CRUDE/ POSSIBLE MANN]4 ,MEXICO ,CITY WAS IMM$IATELY ALIVE ) ANTI-,P,R,I DEMON/RATIONS4 ,! ,T,V SCRE5S %[+ ! POLL+ P]C5TAGES HAD SIMPLY GONE BLANK = H\RS1 & M\NTA9S ( VOTES M>K$ = ,C>D5AS W]E F\ND PIL$ ON ! ,DI/RITO ,F$]AL'S RUBBI% TIPS OR FLOAT+ D[N ,MEXICO'S WAT]WAYS4 

,ELECTIONS 9 ,MEXICO (T5 C>RY SU* A HEAVY CO]CIVE ELEM5T ?AT !Y CAN BE A WORLD AWAY FROM ! PURE B\RGEOIS 9DIVIDUALITY ( ELECTIONS 9 ! ,WE/4 ,P,R,II/AS >E USUALLY PRES5T 9 GANGS >\ND ! BALLOT BOXES1 & REFUSAL TO VOTE ! RI<T WAY C\LD MEAN LOS+ A JOB1 HAV+ Y\R *ILD B>R$ FROM S*OOL OR SIMPLY BE+ GIV5 A BEAT54 ,?US A REFUSAL TO VOTE ,P,R,I IS NOT TAK5 LI<TLY1 & IS MU* MORE LIKELY TO OCCUR AFT] DISCUSSIONS & AGREEM5T ) FRI5DS & NEI<BORS4 ,?IS NE$ TO COME TOGE!R COLLECTIVELY IMM$IATELY & P>ADOXICALLY RAISES ! POSSIBILITY ( A WORLD BEYOND DEMOCRACY4 

,! ,TEQUILA ,EFFECT & ,BEYOND 

,) *EAP ,AM]ICAN COMMODITIES JU/ OV] ! BORD]1 ,MEXICO IS ADEPT AT SUCK+ 9 GOODS FROM ABROAD1 LEAD+ TO P]IODIC CRISES 9 ! BALANCE ( PAYM5TS :I* HAVE USUALLY BE5 SOLV$ BY DEVALU+ ! PESO4 ,! PESO WAS OV]VALU$ 9 #aiid -- BUT EV]YONE ASSUM$ ! ,P,R,I HAD SUFFICI5T =EIGN CURR5CY RES]VES TO PROTECT IT4 ,9 FACT !SE RES]VES HAD FALL5 FROM @s#c#cBN 9 ,FEBRU>Y TO ONLY @s#b4#eBN 9 ,DECEMB]1 MONEY :I* HAD BE5 US$ TO COV] ! YAWN+ BALANCE ( PAYM5TS DEFICIT4 ,SU* A DRAMATIC ]OSION ALSO %[S JU/ H[ QUICKLY ! RELATIVELY PROTECT$ ,MEXICAN M>KET WAS OP5$ UP BY ,N,A,F,T,A4 ,ON ! #b? ( ,DECEMB]1 ! NEW ,Z$ILLO ADM9I/RATION ANN\NC$ A ONE-(F DEVALUATION ( #a#e.04 ,PANICK$ =EIGN 9VE/ORS SCRAMBL$ TO GET \T ( BO? PESOS & ,MEXICO4 ,! ,P,R,I US$ ! LA/ ( ITS =EIGN CURR5CY RES]VES TO BOL/] ! PESO1 BUT TWO DAYS LAT] IT WAS =C$ TO FLOAT ! CURR5CY ON ! M>KETS1 :]E IT DROPP$ #d.0 AGA9/ ! DOLL>4 

,) ! DOLL> SU* AN IMPORTANT FACTOR 9 ,MEXICO -- COMPANIES & ! GOV]NM5T G5]ALLY HAV+ !IR LOANS D5OM9AT$ 9 DOLL>S -- ! DEVALUATION N[ MEANT ! DEBT BURD5 9 ! ECONOMY HAD RIS5 MASSIVELY4 ,9T]NATIONAL DEBT DEFAULT SEEM$ ONCE AGA9 TO BE ON ! C>DS4 ,& :AT WAS BE+ CALL$ ! ,TEQUILA ,EFFECT C\LD SPREAD -- = ,LAT9 ,AM]ICA1 ONLY REC5TLY RECOV]$ FROM ! YE>S ( 9T]NATIONAL F9ANCE ISOLATION ?AT HAD RESULT$ FROM ! #aihb DEFAULT1 ?IS W\LD BE NO?+ %ORT ( CATA/ROPHIC4 ,DESPITE ! ISOLATIONI/S 9 ,WA%+TON1 A @s#eBN RESCUE PACKAGE WAS PUT TOGE!R BY ! ,U,S & ,I,M,F1 SPECIFICALLY TO S]VICE %ORT-T]M DEBT4 ,9 ,M>* #aiie ! ,P,R,I ANN\NC$ AN AU/]ITY PROGRAM ?AT 9CLUD$ A #a.0 CUT 9 GOV]NM5T SP5D+1 9CREAS$ ,V,A,T1 FUEL & ELECTRICITY PRICE RISES & IMPOS$ CR$IT RE/RA9TS4 

,MEAN:ILE1 ) 9T]E/ RATES SO>+ AT #a#b.01 MANY BUS9ESSES & MORTGAGE-[N]S W]E UNABLE TO KEEP UP !IR REPAYM5TS1 DESPITE A NEW GOV]NM5T SUBSIDY = ! MIDDLE CLASS4 ,SEV5 BANKS COLLAPS$ & NE$$ RESCU+ BY ! GOV]NM5T4 ,! TRUE CO/ ( ?IS BAIL\T ONLY BECAME APP>5T 9 #aiii -- @s#i#cBN1 NE>LY #b.0 ( ,G,D,P6 ,?IS DEBT1 :I* IS ACCRU+ #a#h.0 YE>LY 9T]E/1 & :I* ! ,P,R,I HAS HIDD5 FROM PUBLIC ACC\NTS1 FALLS DUE 9 #b#c4 ,UNLESS IT IS RE/RUCTUR$ SOON1 ! ,MEXICAN CAPITALI/ CLASS MAY F9D !MSELVES 9 TR\BLE YET AGA94 

,! RESPONSE ( ! WORK+ CLASS TO ?IS AU/]ITY PACKAGE WAS DET]M9$ BY ! DEP? ( ! RECESSION ?AT FOLL[$4 ,UNLIKE #a#i#h#g1 ! ,C,T,M REFUS$ TO SIGN AN ECONOMIC PACT ) ! GOV]NM5T & BUS9ESS4 ,CONSEQU5TLY !RE WAS NO (FICIAL POLICY ( WAGE RE/RA9T DUR+ ?IS CRUCIAL TIME4 ,BUT ! REFUSAL TO 5DORSE AU/]ITY WAS H>DLY 9 RESPONSE TO A MILITANT WORK+ CLASS MOVEM5T )9 ! ,C,T,M T5T4 ,RA!R IT WAS BECAUSE1 !IR SOCIAL BASE UND]M9$ BY PRIVATIZATION1 ! ,C,T,M N[ F\ND ITSELF 9 MU* /IFF] COMPETITION ) 9DEP5D5T UNIONS & WAS COMPELL$ TO PO/URE A LITTLE MORE CR$IBLY4 ,NEI!R1 H[EV]1 W]E ! 9DEP5D5T UNIONS >5AS ( MILITANT ANTI-AU/]ITY4 ,%OCK$ BY ! SCALE ( ! #aiie RECESSION -- ONE MILLION \T ( WORK1 ANO!R F\R MILLION WORK+ LESS ?AN FIFTE5 H\RS A WEEK -- ! WORK+ CLASS WAS UNABLE TO MOVE BEYOND ! FRAGM5TATION WR\<T BY ! ECONOMY & :I* ! TRADE UNION =M ACCEPTS4 ,FUR!RMORE1 ! ,P,R,IS T>GET$ ANTI-POV]TY PROGRAM ,P,R,O,N,A,S,O,L1 :I* HAD COME 9TO BE+ AS A RESULT ( ! #aihh ELECTION %OCK1 (FSET SOME ( ! V]Y WOR/ EFFECTS ( ! RECESSION4 

,SOME FANTASIZE ?AT ! DEVALUATION WAS A PUNITIVE MEASURE DIRECT$ AT ! WORK+ CLASS LE/ !Y BECOME OV]LY-9SPIR$ BY ! ,*IAPAS REBELLION2 O!RS ?AT ,Z$ILLO DELIB]ATELY ELECT$ TO EXPOSE ! ECONOMY TO CRISIS & !RE=E =CE A P]IOD ( CAPITALI/ RE/RUCTUR+4 ,NEI!R POSITION IS T5ABLE3 BY ,DECEMB] #aiid ! ,ZAPATI/AS' 9ITIAL IMPACT HAD EVAPORAT$ & ! UPRIS+ WAS MILIT>ILY CONTA9$ -- 9DE$ ! ,P,R,I HAD SECUR$ A NEW 9CUMB5T 9 ! ,PRESID5TIAL ,PALACE4 ,& ! DEP? ( ! RECESSION1 :I* ! ,P,R,I C\LD NOT HAVE =SE51 IS SURELY PRO( ?AT !Y NEV] 9T5D$ TO 5G9E] MORE ?AN AN SIMPLE ADJU/M5T 9 ! BALANCE ( PAYM5TS4 ,RA!R :AT WE SEE IS A CRISIS ( CONFID5CE 9 ! ,MEXICAN B\RGEOISIES' ABILITY TO MANAGE ACCUMULATION ON ! P>T ( GLOBAL F9ANCE CAPITAL4 

,!RE IS NO D\BT1 H[EV]1 ?AT ! RECESSION HAS VIGOR\SLY RE/RUCTUR$ SECTORS ( ! ,MEXICAN ECONOMY4 ,! COMPETITIVE $GE ?AT ! DEVALUATION GAVE TO ,MEXICAN EXPORTS HAS BE5 SU/A9$4 ,OIL1 ONCE SU* A KEY EXPORT1 N[ ACC\NTS = ONLY #a.0 ( ! C\NTRY'S EXPORT BASE4 ,IT IS ?IS EXPORT-L$ RECOV]Y ?AT ! CAPITALI/ CLASS SEE AS ! FRUIT ( ! RE/RUCTUR+ ?AT HAS BE5 TAK+ PLACE S9CE ! LATE #a#i#hS1 & :I* SUP]FICIALLY APPE>S TO BE AS A RESULT ( ,N,A,F,T,A4 ,= ! WORK+ CLASS1 REAL WAGES HAVE /ILL NOT REA*$ !IR PRE-DEVALUATION LEVELS4 ,MORE WAGE CUTS & JOB 9SECURITY IS ON ! WAY AS ! PRIVATIZATION B&WAGON JUDD]S ON & ! OLD SOCIAL CONTRACT IS FUR!R DE/ROY$4 

,! SWIFT ECONOMIC RECOV]Y FROM #aiie %[$ H[ SUCCESSFULLY ! ,P,R,I HAD RE9V5T$ ITSELF AS A P>TY ( NEOLIB]AL ECONOMICS4 ,!Y DID NOT ATTEMPT$ TO SP5D !IR WAY \T ( TR\BLE1 AS !Y HAVE DONE 9 ! PA/4 ,9/EAD !Y 9FLICT$ ! H>%E/ ( FREE M>KET M$IC9ES ON ! POPULATION4 ,BY /EAL+ !IR POLICIES1 ! ,P,R,I SEEM+LY M>G9ALIZ$ ! ,P,A,N4 ,TWO RELAT$ CONTRADICTIONS N[ BESET ! ,P,R,I H[EV]4 ,! FIR/ WAS ?AT ) ! OP5+ UP ( ,MEXICO TO TRADE LIB]ALIZATION1 & ! SUBSEQU5T DELUGE ( ,AM]ICAN COMMODITIES1 ! ,P,R,I C\LD NO LONG] BANG ! IDEOLOGICAL DRUM ( ECONOMIC NATIONALISM ) ANY COH]5CE4 ,?IS MAY NOT HAVE BE5 A PROBLEM3 ! ,MEXICAN B\RGEOISIE HAVE DECADES ( PRACTICE AT APPE>+ TO BE MA/]S ( !IR [N FATE :ILE HAV+ HUGE SECTIONS ( !IR ECONOMY SUBORD9AT$ TO ! 9T]E/S ( ,AM]ICAN CAPITAL4 

,! SECOND CONTRADICTION WAS MORE S]I\S4 ,BY SO DRAMATICALLY R$UC+ ! SIZE ( ! /ATE SECTOR1 ! P>TY-/ATE 9EVITABLY CURTAIL$ ITS [N ABILITY TO DISP5SE PATRONAGE & DO FAVORS4.<#a#b.> ,! QUE/ION = ! ,P,R,I BECAME3 H[ SUCCESSFUL C\LD IT BE AT MA9TA9+ ITS TRADITIONAL NETWORK ( 9FLU5CE & P[]1 A NETWORK BORN \T ( A CORRUPT & /ATE-L$ ECONOMY1 9 ! FACE ( ! NEW COMPETITIV5ESS ! FREE M>KET DEM&$4 ,) ! ,P,R,I UNABLE TO SOLVE ?IS PROBLEM1 A PROBLEM :I* UND]M9$ !IR [N SOCIAL BASE1 ,MEXICO C\LD OP5 UP TO ALL SORTS ( POSSIBILITIES4 

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,*RONOLOGY 3 
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