During the nineteenth century, British-owned railways grew under the protection of an Argentine ruling elite that considered railways both instruments and symbols of progress. Under this program of support for foreign enterprise, Argentina had by 1914 built the largest railway network in Latin America.

During the first decades of the twentieth century, the railways were successful in following a policy of calculated disregard for Argentine interests in general. However, following the end of World War I, the British economic empire began to decline and Argentine economic nationalism grew. A number of popularistic political movements incorporated economic nationalism into their platforms, and even among the ruling elite there were signs of increasing nationalistic sentiment.

Although most studies of economic nationalism have emphasized the importance of the middle-class Radical party in the rise of xenophobia, Winthrop R. Wright's study shows that antiforeign economic nationalism was not entirely a reaction to the conservative elite. Between 1932 and 1938 the nationalistic programs of General Agustin Justo's government—basically a conservative regime—led the British interests to decide to sell their holdings. The British govemment had arrived at a position of supporting the economic withdrawal of the large British-owned firms long before Juan D. Perón appeared on the political scene.

Perón combined traditional Argentine economic nationalism with his own scheme to gain power over all elements in Argentina. His solution to the railway problem, although more dramatically executed, did not differ greatly from that of the conservative Justo. Perón purchased the railways outright in 1947–1948, but his use of nationalism was in reality covering his own inability to outbargain Britain and the United States following the conclusion of World War II.

For over a hundred years, Venezuelans have referred to themselves as a café con leche (coffee with milk) people. This colorful expression well describes the racial composition of Venezuelan society, in which European, African, and Indian peoples have intermingled to produce a population in which almost everyone is of mixed blood. It also expresses a popular belief that within their blended society Venezuelans have achieved a racial democracy in which people of all races live free from prejudice and discrimination. Whether or not historical facts actually support this popular perception is the question Winthrop Wright explores in this study.

Wright's research suggests that, contrary to popular belief, blacks in Venezuela have not enjoyed the full benefits of racial democracy. He finds that their status, even after the abolition of slavery in 1854, remained low in the minds of Venezuelan elites, who idealized the European somatic type and viewed blacks as inferior. Indeed, in an effort to whiten the population, Venezuelan elites promoted European immigration and blocked the entry of blacks and Asians during the early twentieth century.

These attitudes remained in place until the 1940s, when the populist Acción Democrática party (AD) challenged the elites' whitening policies. Since that time, blacks have made significant strides and have gained considerable political power. But, as Wright reveals, other evidence suggests that most remain social outcasts and have not accumulated significant wealth. The popular perception of racial harmony in Venezuela hides the fact of ongoing discrimination.