Banana republic

Banana republic is a pejorative political science term for politically unstable countries in Latin America whose economies are largely dependent on exporting a limited-resource product, e.g. bananas. It typically has stratified social classes, including a large, impoverished working class and a ruling plutocracy of business, political, and military elites. This politico-economic oligarchy controls the primary-sector productions to exploit the country's economy.

Origin

American writer O. Henry (William Sydney Porter 1862–1910) coined "banana republic" to describe the fictional Republic of Anchuria in the book Cabbages and Kings (1904), a collection of thematically related short stories inspired by his experiences in Honduras between 1896 and 1897, when he was wanted in the United States for bank embezzlement. In political science, the term banana republic is a pejorative descriptor for a servile dictatorship that abets or supports, for kickbacks, the exploitation of large-scale plantation agriculture, especially banana cultivation. In economics, a banana republic is a country operated as a commercial enterprise for private profit, effected by a collusion between the State and favoured monopolies, in which the profit derived from the private exploitation of public lands is private property, while the debts incurred thereby are a public responsibility. Such an imbalanced economy remains limited by the uneven economic development of town and country, and tends to cause the national currency to become devalued paper-money, rendering the country ineligible for international-development credit.

Banana republic (disambiguation)

A Banana republic is a pejorative term for a country with a kleptocratic government, often with a primitive economy and sometimes a puppet state of a major power.

Banana republic may also refer to:

See also

Banana Republic

Banana Republic is an American clothing and accessories retailer owned by American multinational corporation, Gap Inc.

It was founded in 1978 by Mel and Patricia Ziegler with a safari theme; in 1983, Gap purchased the company and gave it a more upscale image. Banana Republic has over 600 stores located internationally.

History

The original Banana Republic was founded by Mel and Patricia Ziegler in 1978. Gap Inc. acquired Banana Republic in 1983, eventually rebranding it as a mainstream luxury clothing retailer. The literate articles, hand-drawn catalog, and eccentric tourist-oriented items were phased out and were replaced with more luxurious, but not unique, items for which the brand is currently known (As of 2012). To set itself apart from Gap as a more upmarket brand, Banana Republic occasionally buys and refurbishes historic buildings for its retail locations.

Locations

The company operates more than 500 Banana Republic stores in the United States (including Puerto Rico), 40 stores in Canada, and 61 stores beyond North America. The Gap, Inc. is expanding its international presence with franchise agreements for Gap and Banana Republic in Asia, Europe, and the Middle East. In 2015 Banana Republic opened a new flagship in Manhattan on Fifth Avenue and 18th Street.