ABSTRACT
This chapter begins by examining the peculiar colonial foundation of the economy, which was characterized by a general weakness of colonial institutions, by the importance of small independent gold mining, and in relation to this, the emergence of small traders, the Antioqueno merchants. It discusses the process of national economic integration and regional restructuring. The role played by the Antioqueno elite in national politics was rather discrete, comparable to that of the bankers. As communications improved in the second half of the nineteenth century, Antioqueno traders established direct trade contacts in Europe, thus creating an important barrier to the entry of new members into their class. The most important factor, however, seems to have been the changing outlook of the Antioqueno elite regarding opportunities for accumulation. Several kinds of theories have been put forward to explain Antioquia's relatively advanced level of development.
