Much ado about nothing
Subtitle: expropriation and compensation in Peru and Venezuela, 1968-75
By: Noel Maurer
Contributors: Harvard Business School
Series: Working paper / Harvard Business School -- 11-097; Working paper (Harvard Business School) -- 11-097.
Publisher: Harvard Business School
Published: 2011
Place of publication: [Boston]
Language: eng
Number of pages: 17
Description: The iconic Latin American expropriations of the late 1960s and early 1970s turn out to have been far less revolutionary than they appeared on the surface. In Peru, the Nixon Administration defanged the automatic sanctions mandated by Congress in regard to IPC, but once the Revolutionary Government moved against other American assets it quickly reversed itself and extracted a fair compensation—using market values as the definition of fair—from the Peruvian government. In Venezuela, conversely, the Ford Administration had no need to try to reach into the deep toolkit available to all American governments—ranging from diplomatic pressure to covert action—because the settlement offered by the Venezuelan government was extremely favorable to the oil companies. In Latin America, at least, the seeming decline of American hegemonic power in the face of economic nationalism was a mirage.
Notes: "March 2011"--Publisher's website.

Includes bibliographical references.