The elimination of economic nationalism for others stood in sharp conflict with the Latin American stand of that moment, which State Department officials described as “the philosophy of the New Nationalism [that] embraces policies designed to bring about a broader distribution of wealth and to raise the standard of living of the masses.”7 As U.S. policy analysts added, “Latin Americans are convinced that the first beneficiaries of the development of a country’s resources should be the people of that country.”8
