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Mexico's Business and Entrepreneurship in the Era of Nationalism

Published online by Cambridge University Press:  02 June 2022

Aurora Gómez Galvarriato Open the ORCID record for Aurora Gómez Galvarriato [Opens in a new window]  and
Gabriela Recio Cavazos
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Abstract

This article studies the evolution of business in Mexico from the Revolution (1910–1920) to the early 1980s, a period when the state played a major role in the economy and undertook nationalistic policies. It explores the development of distinctive features that characterize business in Latin America: the importance of family-owned diversified business groups and immigrants, the prominence of illegal business, the central role of the entrepreneur, and the greater need to forge ties with government agents for company success. We argue that while some of these features had existed earlier, during this era they took the form that has prevailed until the present day.

Keywords

Mexicotwentieth centurynationalismbusinessentrepreneurship
Type
Research Article
Information
Business History Review , Volume 96 , Issue 2: Business History around the World , Summer 2022 , pp. 289 - 324
Copyright
Copyright © 2022 The President and Fellows of Harvard College

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Footnotes

The authors wish to thank Geoffrey Jones, Walter Friedman, and three anonymous referees for their comments and suggestions.

References

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26 Minutes of the Shareholders Assembly, Cervecería Cuauhtémoc, 6 July 1914, Archivo de la Cervecería Cuauhtémoc-Moctezuma, Monterrey, Nuevo Léon, Mexico (hereafter ACCM).

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29 Minutes of the Board of Directors, Cervecería Cuauhtémoc, 14 Mar. 1914, ACCM.

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35 This can be seen in the minutes of the Board of Directors of Cervecería Cuauhtémoc for the years 1913, 1914, and 1915, ACCM.

36 Minutes of the Board of Directors,Cervecería Cuauhtémoc, 10 Feb. and 27 Mar. 1915, ACCM.

37 Cerutti and Barragán, John F. Brittingham, 39–41, 93–97.

38 Aurora Gómez Galvarriato and Gabriela Recio, “The Indispensable Service of Banks: Commercial Transactions, Industry and Banking in Revolutionary Mexico,” Enterprise & Society 8, no. 1 (2007): 68–105.

39 Gómez-Galvarriato, Globalización y nacionalismo, 43–44.

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41 Andrew Paxman, En busca del Señor Jenkins (Mexico City, 2016).

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45 Smith, 35–36; Gabriela Recio, “Drugs and Alcohol: US Prohibition and the Origin of the Drug Trade in Mexico, 1910–1930,” Journal of Latin American Studies 34, no. 1 (2002): 22–23.

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47 Recio, “Drugs and Alcohol,” 29–30.

48 Smith, The Dope, 61.

49 Several letters, 812.114/Narcotics/12, 13, and 15, National Archives and Records Administration, Washington, DC (hereafter NARA).

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51 Walter F. Boyle, Mexicali Consul, to the Secretary of State, 28 Mar. 1919, 812.114/Liquors/8, NARA.

52 Smith, The Dope, 52.

53 Letter from L.G. Nutt to the Department of State, 29 Nov. 1924, 12.114/Narcotics/14 and Department of State to the Treasury Department, 12 May 1928, 812.114/Narcotics/132, NARA. The cities that are mentioned are Caborca, Oquitoa, Pitiquito, and the Yaqui and Mayo Valleys in Sonora; Mazatlán and Culiacán in Sinaloa; and Tamazula in Durango.

54 Smith, The Dope, 55–58, 128.

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58 “En legítima defensa,” El Universal, 23 Nov. 1952, cited in Mijares Lara, “Juan Andreu Almazán,” 230, our translation.

59 Banco de Londres y México to Banco de París y de los Países Bajos, 1 Apr. 1925 and 6 Mar. 1926, vol. 322, file 1129, AMGM.

60 The average value of its share was obtained from several issues of El Economista Mexicano and the Boletín Financiero y Minero.

61 Lagunilla Iñárritu, La Bolsa, 233.

62 Harold van B. Cleveland and Thomas F. Huertas, Citibank, 1812–1970 (Cambridge, MA, 1985), 123.

63 Gómez-Galvarriato, Globalización y nacionalismo, 53–61.

64 Hamilton, Limits of State Autonomy, 317–20.

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68 Ley de Expropiación, Diario Oficial de la Federación, 25 Nov. 1936, Articles 9, 10, and 20.

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103 Raymond Vernon was probably one of the first to analyze business groups in Mexico, at the end of the 1950s and early 1960s. See Vernon, Dilemma of Mexico's Development. For a more recent discussion on business groups, see Del Angel, “Nexus,” 111–28; Mario Cerutti, “Grandes empresas y familias empresariales en México,” in Fernández Pérez and Lluch, Familias Empresarias, 153–88; Taeko Hoshino, “Business Groups in Mexico,” in Colpan, Hikino, and Lincoln, Oxford Handbook of Business Groups, 15–66; Ross Schneider, “Hierarchical Market Economies,” 553–75; Celso Garrido, “El liderazgo de las grandes empresas industriales mexicanas,” in Grandes empresas y grupos industriales latinoamericanos, ed. Wilson Peres (Mexico City, 1998), 397–472; and Gonzalo Castañeda Ramos, La empresa mexicana y su gobierno corporativo: Antecedentes y desafíos para el siglo XXI (Puebla, 1998), 69–98, 213–68.

104 This can be seen in the correspondence between Manuel Gómez Morin and the Garza Sada family, especially in Esquema, n.d., vol. 486, file 1520, AMGM. See also Cavazos, Gabriela Recio, “Lawyers’ Contribution to Business Development in Early Twentieth-Century Mexico,” Enterprise and Society 5, no. 2 (2004): 301–4Google Scholar.

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107 Del Angel, “Nexus,” 119.

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119 Roderic Ai Camp, Entrepreneurs and Politics in Twentieth-Century Mexico (New York, 1989), 24–26.

120 Jorge Fernández Menéndez, Nadie supo nada: La verdadera historia del asesinato de Eugenio Garza Sada (Mexico City, 2019).

121 Recio Cavazos, Don Eugenio, 22–23, 305.

122 Recio Cavazos, 306.

123 Camp, Entrepreneurs and Politics, 29.

124 Carlos Marichal, “Historia de las empresas e historia económica de México: avances y perspectivas,” in Los estudios de empresarios y empresas: Una perspectiva internacional, ed. Jorge Basave and Marcela Hernández (Mexico, 2007), 71–100.

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127 Camp, Entrepreneurs and Politics, 28–29.

128 Graciela Márquez, “Evolución y Estructura del PIB, 1921–2010,” in Kuntz, Historia económica general, 553; INEGI, Estadísticas Históricas de México, vol. 1 (Mexico City, 1999), 3.

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