Asianometry How Mexico Made a Plutocrat
4 snips
Apr 13, 2025 Explore the fascinating history of Mexico's telephone industry, tracing its roots from the 1800s to its late 20th-century privatization. Discover how Antonio de Obregón y Alcocer shaped wealth through a massive silver mine and contrasts with Carlos Slim's rise to power. The discussion uncovers the implications of monopolistic practices and the government's role in creating a plutocrat. Delve into the intersection of corporate success and socioeconomic impacts, revealing how wealth inequality persists in a nation with millions in poverty.
AI Snips
Chapters
Transcript
Episode notes
World's Richest Man
- Carlos Slim isn't the first Mexican to be the world's richest man.
- Antonio de Obregón y Alcocer, who ran the Valenciana Mine, likely held this title before.
Telmex Formation
- Mexico's telephone industry began with individual entrepreneurs, then consolidated into a monopoly.
- Telmex, formed in 1947, acquired major players like Ericsson and ITT, becoming Mexican-owned by 1958.
Government Intervention
- Telmex's expansion and adoption of new technologies required government involvement.
- In 1976, the Mexican government designated Telmex a legal monopoly but regulated their rates.