Author Abstract
This working paper examines the most negative impact of modern business enterprise on the natural environment of Latin America during the globalization waves between the 19th century and the present day. During the first global economy the exploitation of natural resources made the land-owning elite wealthy, but at the cost of large-scale ecological destruction. During the Great Reversal in the mid-20th century, public policies aimed at “catching up” resulted in the proliferation of hydro-electric schemes, and resulting co-creation of ecological damage by business and governments. In the new global economy since 1980, renewed economic growth and consumerism have resulted in mountains of waste in polluted mega-cities. Yet there were interesting positives as the scale of ecological degradation provoked the emergence of a new cohort of green businesses across sectors ranging from beauty and health to ecotourism. Sustainability has been constantly challenged since the nineteenth century in a region characterized by fragile and often corrupt governments, high levels of poverty and inequality, macroeconomic instability, and closely-held business groups heavily invested in preserving family wealth. In the 21st century, both business and governments in the region needed to address sustainability issues far more seriously, before a point of no return was reached.
Paper Information
- Full Working Paper Text
- Working Paper Publication Date: August 2018
- HBS Working Paper Number: HBS Working Paper #19-009
- Faculty Unit(s): General Management
