pro cal ▁flows ▁of ▁capital , ▁labour , ▁and ▁goods ▁could ▁take ▁place ▁on ▁a ▁significant ▁scale ▁between ▁its ▁different ▁regions , ▁which ▁it ▁had ▁h ither to ▁lack ed . ▁ ▁Histor ians ▁like ▁Mil cí ades ▁Pe ña ▁consider ▁this ▁historical ▁period ▁of ▁the ▁Amer icas ▁as ▁pre - cap ital ist , ▁as ▁most ▁production ▁of ▁the ▁coast al ▁cities ▁was ▁dest ined ▁to ▁over se as ▁mark ets . ▁Rod ol fo ▁Pu ig gr ós ▁consider ▁it ▁instead ▁a ▁fe ud al ist ▁society , ▁based ▁on ▁work ▁relations ▁such ▁as ▁the ▁en com i enda ▁or ▁sla very . ▁Nor berto ▁Gal asso ▁and ▁En rique ▁River a ▁consider ▁that ▁it ▁was ▁neither ▁capital ist ▁nor ▁fe ud al ist , ▁but ▁a ▁hy brid ▁system ▁result ▁of ▁the ▁interaction ▁of ▁the ▁Spanish ▁civil ization , ▁on ▁the ▁transition ▁from ▁fe ud al ism ▁to ▁capital ism , ▁and ▁the ▁n atives , ▁still ▁living ▁in ▁pre history . ▁ ▁The ▁Argent ine ▁territ ories , ▁held ▁back ▁by ▁their ▁closed ▁econom ies , ▁the ▁lack ▁of ▁any ▁activity ▁closely ▁linked ▁to ▁foreign ▁trade , ▁and ▁the ▁sc ant ▁amounts ▁of ▁labour ▁and ▁capital ▁they ▁consequ ently ▁received , ▁fell ▁far ▁behind ▁those ▁of ▁other ▁areas ▁of ▁the ▁colonial ▁world ▁that ▁participated ▁in ▁foreign ▁trade . ▁Only ▁activities ▁associated ▁with ▁a ▁dynamic ▁export ing ▁centre ▁enjoyed ▁some ▁degree ▁of ▁prosper ity , ▁as ▁occurred ▁in ▁T uc uman , ▁where ▁cloth ▁was ▁manufact ured , ▁and ▁in