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79-906: Rocky Mountain Chocolate Factory, Inc. is an international franchiser, confectionery manufacturer and retail operator in the United States, with outlets in the Republic of Panama and the Republic of the Philippines . The company is based in the town of Durango, Colorado . The company manufactures chocolate candies and other confections in its 53,000-square-foot (4,900 m) production facility to supply its franchise locations. The facility produces approximately 300 chocolate candies and other confectionery products. These products include many varieties of clusters, caramels, creams, meltaways, truffles and molded chocolates. The company has been publicly traded on
158-528: A Scottish colony in the region in 1698. This failed for a number of reasons, and the ensuing debt contributed to the union of England and Scotland in 1707 . In 1671, the privateer Henry Morgan , licensed by the English government, sacked and burned the city of Panama – the second most important city in the Spanish New World at the time. In 1717 the viceroyalty of New Granada (northern South America)
237-456: A zone roughly 16 km (10 mi) wide and 80 km (50 mi) long. In that zone, the US would build a canal, then administer, fortify, and defend it "in perpetuity". In 1914 the United States completed the existing 83-kilometer-long (52-mile) canal. Because of the strategic importance of the canal during World War II , the US extensively fortified access to it . From 1903 to 1968, Panama
316-644: A French engineer and lobbyist represented Panama even though Panama's president and a delegation had arrived in New York to negotiate the treaty. The treaty was quickly drafted and signed the night before the Panamanian delegation arrived in Washington. Mr. Bunau-Varilla was in the employ of the French Canal company that had failed and was now bankrupt. The treaty granted rights to the United States "as if it were sovereign" in
395-695: A blind eye to abuses in Panama for many years until concern over drug trafficking prompted indictments of the general [Noriega] by two grand juries in Florida in February 1988". In April 1988, US President Ronald Reagan invoked the International Emergency Economic Powers Act , freezing Panamanian government assets in all US organizations. In May 1989 Panamanians voted overwhelmingly for the anti-Noriega candidates. The Noriega regime promptly annulled
474-569: A country's development status. They conclude that 11%, 21% and 34% of all countries can be interpreted as currently misclassified in the development bins due to the three sources of data error, respectively. Wolff, Chong and Auffhammer suggest that the United Nations should discontinue the practice of classifying countries into development bins because the cut-off values seem arbitrary, and the classifications can provide incentives for strategic behavior in reporting official statistics, as well as having
553-495: A distinctive sense of autonomy and of regional or national identity within Panama well before the rest of the colonies: the prosperity enjoyed during the first two centuries (1540–1740) while contributing to colonial growth; the placing of extensive regional judicial authority (Real Audiencia) as part of its jurisdiction; and the pivotal role it played at the height of the Spanish Empire – the first modern global empire. The end of
632-576: A hundred more dissidents into exile. (see Zárate 15). Noriega's regime was supported by the United States and it began playing a double role in Central America. While the Contadora group , an initiative launched by the foreign ministers of various Latin American nations including Panama's, conducted diplomatic efforts to achieve peace in the region, Noriega supplied Nicaraguan Contras and other guerrillas in
711-423: A judge). Spanish authorities had little control over much of the territory of Panama. Large sections managed to resist conquest and missionization until very late in the colonial era. Because of this, indigenous people of the area were often referred to as "indios de guerra" (war Indians) who resisted Spanish attempts to conquer them or missionize them. However, Panama was important to Spain strategically because it
790-588: A nation. When the Senate of Colombia rejected the Hay–Herrán Treaty on January 22, 1903, the United States decided to support and encourage the Panamanian separatist movement. In November 1903 Panama, tacitly supported by the United States, proclaimed its independence and concluded the Hay–Bunau-Varilla Treaty with the United States without the presence of a single Panamanian. Philippe Bunau-Varilla,
869-526: A number of grounds, including focusing exclusively on national performance and ranking, lack of attention to development from a global perspective, measurement error of the underlying statistics, and on the UNDP's changes in formula which can lead to severe misclassification of "low", "medium", "high" or "very high" human development countries. There have also been various criticism towards the lack of consideration regarding sustainability (which later got addressed by
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#1733085289128948-514: A plane crash. Torrijos' death altered the tone of Panama's political evolution. Despite the 1983 constitutional amendments which proscribed a political role for the military, the Panama Defense Force (PDF), as they were then known, continued to dominate Panamanian political life. By this time, General Manuel Antonio Noriega was firmly in control of both the PDF and the civilian government. In
1027-471: A racially complex and highly stratified society, the source of internal conflicts that ran counter to the unifying force of nationalism. In 1538, the Real Audiencia of Panama was established, initially with jurisdiction from Nicaragua to Cape Horn , until the conquest of Peru. A Real Audiencia was a judicial district that functioned as an appeals court. Each audiencia had an oidor (Spanish: hearer,
1106-516: A state of emergency in the country. On July 10, the Civic Crusade called for a massive demonstration that was violently repressed by the "Dobermans", the military's special riot control unit. That day, later known as El Viernes Negro ("Black Friday"), left many people injured and killed. United States President Ronald Reagan began a series of sanctions against the military regime. The United States froze economic and military assistance to Panama in
1185-800: A trade network to Panama as there is evidence of coconuts reaching the Pacific coast of Panama from the Philippines in Precolumbian times. When Panama was colonized, the indigenous peoples fled into the forest and nearby islands. Scholars believe that infectious disease was the primary cause of the population decline of American natives. The indigenous peoples had no acquired immunity to diseases such as smallpox which had been chronic in Eurasian populations for centuries. Rodrigo de Bastidas sailed westward from Venezuela in 1501 in search of gold, and became
1264-551: A well-hidden criminal economy that operated as a parallel source of income for the military and their allies, providing revenues from drugs and money laundering . Toward the end of the military dictatorship, a new wave of Chinese migrants arrived on the isthmus in the hope of migrating to the United States. The smuggling of Chinese became an enormous business, with revenues of up to 200 million dollars for Noriega's regime (see Mon 167). The military dictatorship assassinated or tortured more than one hundred Panamanians and forced at least
1343-412: Is considered central — someone choosing to be hungry (e.g. when fasting for religious reasons ) is considered different from someone who is hungry because they cannot afford to buy food, or because the country is going through a famine . The index does not take into account several factors, such as the net wealth per capita or the relative quality of goods in a country. This situation tends to lower
1422-593: Is the year when the report was published. The HDI has extended its geographical coverage: David Hastings, of the United Nations Economic and Social Commission for Asia and the Pacific , published a report geographically extending the HDI to 230+ economies, whereas the UNDP HDI for 2009 enumerates 182 economies and coverage for the 2010 HDI dropped to 169 countries. The Human Development Index has been criticized on
1501-558: The 1984 elections , the candidates were: Barletta was declared the winner of elections that had been considered to be fraudulent. Barletta inherited a country in economic ruin and hugely indebted to the International Monetary Fund and the World Bank . Amid the economic crisis and Barletta's efforts to calm the country's creditors, street protests arose, and so did military repression. Meanwhile, Noriega's regime had fostered
1580-526: The Azuero Peninsula , set forth by the Spanish Crown, in 1558 because of repeated protests by locals against the mistreatment of the native population. In its stead, a system of medium and smaller-sized landownership was promoted, thus taking away the power from the large landowners and into the hands of medium and small-sized proprietors. Panama was the site of the ill-fated Darien scheme , which set up
1659-596: The New World . King Ferdinand II assigned Pedro Arias Dávila as Royal Governor. He arrived in June 1514 with a 19 vessels and 1,500 men. In 1519, Dávila founded Panama City . Gold and silver were brought by ship from South America, hauled across the isthmus, and loaded aboard ships for Spain. The route became known as the Camino Real, or Royal Road, although it was more commonly known as Camino de Cruces (Road of Crosses) because of
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#17330852891281738-668: The Panama Canal expansion project (finished in 2016) doubled its capacity. Commerce, banking, and tourism are major sectors. Panama is regarded as having a high-income economy . In 2019, Panama ranked 57th in the world in terms of the Human Development Index . In 2018, Panama was ranked the seventh-most competitive economy in Latin America, according to the World Economic Forum 's Global Competitiveness Index. Panama
1817-589: The Republic of Panama , is a country in Latin America at the southern end of Central America , bordering South America . It is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the north, and the Pacific Ocean to the south. Its capital and largest city is Panama City , whose metropolitan area is home to nearly half of the country's over 4 million inhabitants. Before
1896-535: The United Nations Development Programme (UNDP)'s Human Development Report Office. The 2010 Human Development Report introduced an inequality-adjusted Human Development Index (IHDI). While the simple HDI remains useful, it stated that "the IHDI is the actual level of human development (accounting for this inequality ), while the HDI can be viewed as an index of 'potential' human development (or
1975-414: The education system ), and per capita income indicators, which is used to rank countries into four tiers of human development . A country scores a higher level of HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. It was developed by Pakistani economist Mahbub ul-Haq and was further used to measure a country's development by
2054-458: The encomienda system in Azuero , however, sparked the conquest of Veraguas in that same year. Under the leadership of Francisco Vázquez, the region of Veraguas passed into Castilian rule in 1558. In the newly conquered region, the old system of encomienda was imposed. On the other hand, the Panamanian movement for independence can be indirectly attributed to the abolition of the encomienda system in
2133-481: The lowest and highest values the variable x {\displaystyle x} can attain, respectively. The Human Development Index (HDI) then represents the uniformly weighted sum with 1 ⁄ 3 contributed by each of the following factor indices: The Human Development Report 2023/24 by the United Nations Development Programme was released on 13 March 2024; the report calculates HDI values based on data collected in 2022. Ranked from 1 to 69 in
2212-488: The planetary pressures-adjusted HDI ), social inequality (which got addressed by the inequality-adjusted HDI ), unemployment or democracy . Economists Hendrik Wolff, Howard Chong and Maximilian Auffhammer discuss the HDI from the perspective of data error in the underlying health, education and income statistics used to construct the HDI. They have identified three sources of data error which are: (i) data updating, (ii) formula revisions and (iii) thresholds to classify
2291-652: The viceroyalty of Peru and even by Panama's own initiative. This uneasy relationship between Panama and Bogotá would persist for centuries. In 1744, Bishop Francisco Javier de Luna Victoria DeCastro established the College of San Ignacio de Loyola and on June 3, 1749, founded La Real y Pontificia Universidad de San Javier. By this time, however, Panama's importance and influence had become insignificant as Spain's power dwindled in Europe and advances in navigation technique increasingly permitted ships to round Cape Horn in order to reach
2370-1222: The 2010 Human Development Report calculated the HDI combining three dimensions: In its 2010 Human Development Report, the UNDP began using a new method of calculating the HDI. The following three indices are used: 1. Life Expectancy Index (LEI) = LE − 20 85 − 20 = LE − 20 65 {\displaystyle ={\frac {{\textrm {LE}}-20}{85-20}}={\frac {{\textrm {LE}}-20}{65}}} 2. Education Index (EI) = MYSI + EYSI 2 {\displaystyle ={\frac {{\textrm {MYSI}}+{\textrm {EYSI}}}{2}}} 3. Income Index (II) = ln ( GNIpc ) − ln ( 100 ) ln ( 75 , 000 ) − ln ( 100 ) = ln ( GNIpc ) − ln ( 100 ) ln ( 750 ) {\displaystyle ={\frac {\ln({\textrm {GNIpc}})-\ln(100)}{\ln(75,000)-\ln(100)}}={\frac {\ln({\textrm {GNIpc}})-\ln(100)}{\ln(750)}}} Finally,
2449-742: The Bodo Industrial District of Durango was built that same year, with the company also opening their first franchises, one in Colorado Springs, Colorado and one in Park City, Utah . In 2013, Kellogg's in the United States partnered with the Rocky Mountain Chocolate to release a limited edition cereal under the latter's brand which consists of sweetened corn flakes, almond slices, and chocolate pieces. In 2022 Rocky Mountain Chocolate
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2528-556: The Camino Real in Panama's Interior, and on some of the islands off Panama's Pacific coast. One such famous community amounted to a small kingdom under Bayano , which emerged in the 1552 to 1558 period. Sir Francis Drake 's famous raids on Panama in 1572–73 and John Oxenham 's crossing to the Pacific Ocean were aided by Panama cimarrons, and Spanish authorities were only able to bring them under control by making an alliance with them that guaranteed their freedom in exchange for military support in 1582. The following elements helped define
2607-610: The Grito was a sign, on the part of the residents of Azuero, of their antagonism toward the independence movement in the capital. Those in the capital region in turn regarded the Azueran movement with contempt, since the separatists in Panama City believed that their counterparts in Azuero were fighting not only for independence from Spain, but also for their right to self-rule apart from Panama City once
2686-448: The Guard's and his vested interests, Lieutenant Colonel Omar Torrijos Herrera and Major Boris Martínez commanded another military coup against the government. The military justified itself by declaring that Arias Madrid was trying to install a dictatorship, and promised a return to constitutional rule. In the meantime, the Guard began a series of populist measures that would gain support for
2765-522: The HDI is the geometric mean of the previous three normalized indices: LE: Life expectancy at birth MYS: Mean years of schooling (i.e. years that a person aged 25 or older has spent in formal education) EYS: Expected years of schooling (i.e. total expected years of schooling for children under 18 years of age, incl. young men and women aged 13–17) GNIpc: Gross national income at purchasing power parity per capita The HDI combined three dimensions last used in its 2009 report: This methodology
2844-608: The NASDAQ exchange since 1985 under the symbol "RMCF". The company was founded by Frank Crail with his friends Jim Hilton and Mark Lipinski. They opened their first store on May 23, 1981, on Main Avenue in Durango's Historic District adjacent to the Durango and Silverton Narrow Gauge Railroad . In 1982, both Hilton and Lipinski left the business, selling their interests to Crail. An offsite facility in
2923-534: The Pacific. While the Panama route was short it was also labor-intensive and expensive because of the loading and unloading and laden-down trek required to get from the one coast to the other. As the Spanish American wars of independence were heating up all across Latin America, Panama City was preparing for independence; however, their plans were accelerated by the unilateral Grito de La Villa de Los Santos (Cry From
3002-607: The People), was composed of 505 members selected by the military with no participation from political parties, which the military had eliminated. The new constitution proclaimed Omar Torrijos as the Maximum Leader of the Panamanian Revolution, and conceded him unlimited power for six years, although, to keep a façade of constitutionality, Demetrio B. Lakas was appointed president for the same period. In 1981, Torrijos died in
3081-562: The Philippines and to found the city of Zamboanga . Panama was under Spanish rule for almost 300 years (1538–1821), and became part of the Viceroyalty of Peru , along with all other Spanish possessions in South America. From the outset, Panamanian identity was based on a sense of "geographic destiny", and Panamanian fortunes fluctuated with the geopolitical importance of the isthmus. The colonial experience spawned Panamanian nationalism and
3160-529: The Shah of Iran for giving the exiled Iranian leader asylum. He also accused Noriega of the assassination by decapitation of then-opposition leader, Dr. Hugo Spadafora . On the night of June 9, 1987, the Cruzada Civilista ("Civic Crusade") was created and began organizing actions of civil disobedience. The Crusade called for a general strike. In response, the military suspended constitutional rights and declared
3239-451: The Spaniards were gone. It was seen as a risky move on the part of Azuero, which lived in fear of Colonel José Pedro Antonio de Fábrega y de las Cuevas (1774–1841). The colonel was a staunch loyalist and had all of the isthmus' military supplies in his hands. They feared quick retaliation and swift retribution against the separatists. What they had counted on, however, was the influence of
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3318-573: The Spanish Empire's Pacific port at the site. The new settlement replaced Santa María la Antigua del Darién , which had lost its function within the Crown's global plan after the Spanish exploitation of the riches in the Pacific began. The official definition and origin of the name as promoted by Panama's Ministry of Education is the "abundance of fish, trees and butterflies". This is the usual description given in social studies textbooks. The Isthmus of Panama
3397-491: The Town of Saints), issued on November 10, 1821, by the residents of Azuero without backing from Panama City to declare their separation from the Spanish Empire. In both Veraguas and the capital this act was met with disdain, although on differing levels. To Veraguas, it was the ultimate act of treason, while to the capital, it was seen as inefficient and irregular, and furthermore forced them to accelerate their plans. Nevertheless,
3476-631: The Vietnam War. The number of US civilians (and their dependents), who had worked for the Panama Canal Commission and the US military, and were killed by the Panamanian Defense Forces, has never been fully disclosed. Human Development Index The Human Development Index ( HDI ) is a statistical composite index of life expectancy , education (mean years of schooling completed and expected years of schooling upon entering
3555-495: The Wolff et al. paper. The Human Development Report Office states that they undertook a systematic revision of the methods used for the calculation of the HDI, and that the new methodology directly addresses the critique by Wolff et al. in that it generates a system for continuously updating the human-development categories whenever formula or data revisions take place. In 2013, Salvatore Monni and Alessandro Spaventa emphasized that in
3634-502: The arrival of Spanish colonists in the 16th century, Panama was inhabited by a number of different indigenous tribes . It broke away from Spain in 1821 and joined the Republic of Gran Colombia , a union of Nueva Granada , Ecuador , and Venezuela . After Gran Colombia dissolved in 1831, Panama and Nueva Granada eventually became the Republic of Colombia. With the backing of the United States, Panama seceded from Colombia in 1903, allowing
3713-400: The capital with separatist interests and formally declared the city's support for independence. No military repercussions occurred because of skillful bribing of royalist troops. In the 80 years following independence from Spain, Panama was a subdivision of Gran Colombia , after voluntarily joining the country at the end of 1821. It then became part of the Republic of New Granada in 1831 and
3792-481: The construction of the Panama Canal to be completed by the United States Army Corps of Engineers between 1904 and 1914. The 1977 Torrijos–Carter Treaties agreed to transfer the canal from the United States to Panama on December 31, 1999. The surrounding territory was returned first, in 1979. Revenue from canal tolls has continued to represent a significant portion of Panama's GDP , especially after
3871-493: The coup. Among them were: Parallel to this, the military began a policy of repression against the opposition, who were labeled communists. The military appointed a Provisional Government Junta that was to arrange new elections. However, the National Guard would prove to be very reluctant to abandon power and soon began calling itself El Gobierno Revolucionario ( The Revolutionary Government ). Under Omar Torrijos 's control,
3950-577: The election and embarked on a new round of repression. The United States invaded Panama on December 20, 1989, codenamed Operation Just Cause . The U.S. stated the operation was "necessary to safeguard the lives of U.S. citizens in Panama, defend democracy and human rights, combat drug trafficking, and secure the neutrality of the Panama Canal as required by the Torrijos–Carter Treaties ". The US reported 23 servicemen killed and 324 wounded, with
4029-472: The evacuation of the American embassy. Amid negotiations for the Robles–Johnson treaty, Panama held elections in 1968 . The candidates were: Arias Madrid was declared the winner of elections that were marked by violence and accusations of fraud against Alianza del Pueblo. On October 1, 1968, Arias Madrid took office as president of Panama, promising to lead a government of "national union" that would end
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#17330852891284108-474: The famed Manila galleons . In 1579, the royal monopoly that Acapulco, Mexico had on trading with Manila, Philippines was relaxed and Panama was assigned as another port that was able to trade directly with Asia. Because of incomplete Spanish control, the Panama route was vulnerable to attack from pirates (mostly Dutch and English), and from "new world" Africans called cimarrons who had freed themselves from enslavement and lived in communes or palenques around
4187-458: The first European to explore the isthmus of Panama. A year later, Christopher Columbus visited the isthmus, and established a short-lived settlement in the province of Darien . Vasco Núñez de Balboa 's tortuous trek from the Atlantic to the Pacific in 1513 demonstrated that the isthmus was indeed the path between the seas, and Panama quickly became the crossroads and marketplace of Spain's empire in
4266-416: The focus of development economics from national income accounting to people-centered policies ". He believed that a simple composite measure of human development was needed to convince the public, academics and politicians that they can, and should, evaluate development not only by economic advances but also improvements in human well-being . Published on 4 November 2010 (and updated on 10 June 2011),
4345-497: The isthmus made over 80 attempts to secede from Colombia. They came close to success in 1831, then again during the Thousand Days' War of 1899–1902, understood among indigenous Panamanians as a struggle for land rights under the leadership of Victoriano Lorenzo. The US intent to influence the area, especially the Panama Canal's construction and control, led to the separation of Panama from Colombia in 1903 and its establishment as
4424-514: The maximum level of HDI) that could be achieved if there was no inequality." The index is based on the human development approach, developed by Mahbub ul-Haq, anchored in Amartya Sen 's work on human capabilities, and often framed in terms of whether people are able to "be" and "do" desirable things in life. Examples include — being: well-fed, sheltered, and healthy; doing: work, education, voting, participating in community life. The freedom of choice
4503-507: The middle of 1987 in response to the domestic political crisis in Panama and an attack on the US embassy. The sanctions failed to oust Noriega, but severely hurt Panama's economy. Panama's gross domestic product (GDP) declined almost 25 percent between 1987 and 1989. On February 5, 1988, General Manuel Antonio Noriega was accused of drug trafficking by federal juries in Tampa and Miami. Human Rights Watch wrote in its 1989 report: "Washington turned
4582-586: The military transformed the political and economic structure of the country, initiating massive coverage of social security services and expanding public education. The constitution was changed in 1972. To reform the constitution, the military created a new organization, the Assembly of Corregimiento Representatives, which replaced the National Assembly. The new assembly, also known as the Poder Popular (Power of
4661-451: The name Panama is unknown. There are several theories. One states that the country was named after a commonly found species of tree ( Sterculia apetala , the Panama tree). Another states that the first settlers arrived in Panama in August, when butterflies are abundant, and that the name means "many butterflies" in one or several of the indigenous American Indian languages that were spoken in
4740-426: The number of Panamanian soldiers killed estimated at 450. The estimates for civilians killed in the conflict ranges from 200 to 4,000. The United Nations put the Panamanian civilian death toll at 500, Americas Watch estimated 300, the United States gave a figure of 202 civilians killed and former US attorney general Ramsey Clark estimated 4,000 deaths. It represented the largest United States military operation since
4819-489: The number of gravesites along the way. At 1520 the Genoese controlled the port of Panama. The Genoese obtained a concession from the Spanish to exploit the port of Panama mainly for the slave trade, until the destruction of the primeval city in 1671. In the meantime in 1635 Don Sebastián Hurtado de Corcuera , the then governor of Panama, had recruited Genoese , Peruvians, and Panamanians, as soldiers to wage war against Muslims in
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#17330852891284898-436: The potential to misguide politicians, investors, charity donors and the public who use the HDI at large. In 2010, the UNDP reacted to the criticism by updating the thresholds to classify nations as low, medium, and high human development countries. In a comment to The Economist in early January 2011, the Human Development Report Office responded to an article published in the magazine on 6 January 2011 which discusses
4977-403: The ranking of some of the most developed countries , such as the G7 members and others. The origins of the HDI are found in the annual Human Development Reports produced by the Human Development Report Office of the United Nations Development Programme (UNDP). These annual reports were devised and launched by Pakistani economist Mahbub ul-Haq in 1990, and had the explicit purpose "to shift
5056-459: The region with weapons and ammunition on behalf of the CIA. On June 6, 1987, the recently retired Colonel Roberto Díaz Herrera, resentful that Noriega had broken the agreed-upon "Torrijos Plan" of succession that would have made him the chief of the military after Noriega, decided to denounce the regime. He revealed details of electoral fraud, accused Noriega of planning Torrijos's death and declared that Torrijos had received 12 million dollars from
5135-401: The reigning corruption and pave the way for a new Panama. A week and a half later, on October 11, 1968, the National Guard (Guardia Nacional) ousted Arias and initiated the downward spiral that would culminate with the United States' invasion in 1989. Arias, who had promised to respect the hierarchy of the National Guard, broke the pact and started a large restructuring of the Guard. To preserve
5214-434: The separatists in the capital. Ever since October 1821, when the former Governor General, Juan de la Cruz Murgeón , left the isthmus on a campaign in Quito and left a colonel in charge, the separatists had been slowly converting Fábrega to the separatist side. So, by November 10, Fábrega was now a supporter of the independence movement. Soon after the separatist declaration of Los Santos, Fábrega convened every organization in
5293-414: The territory prior to the Spanish colonization . Another theory states that the word is a Castilianization of the Kuna language word " bannaba " which means "distant" or "far away". A commonly relayed legend in Panama is that there was a fishing village that bore the name "Panamá", which purportedly meant "an abundance of fish", when the Spanish colonists first landed in the area. The exact location of
5372-453: The village is unknown. The legend is usually corroborated by Captain Antonio Tello de Guzmán's diary entries, who reports landing at an unnamed village while exploring the Pacific coast of Panama in 1515; he only describes the village as a "small indigenous fishing town". In 1517, Don Gaspar de Espinosa , a Spanish lieutenant, decided to build a trading post in the same location Guzmán described. In 1519, Pedro Arias Dávila decided to establish
5451-427: The year 2022, the following countries are considered to be of "very high human development": The list below displays the top-ranked country from each year of the Human Development Index. Norway has been ranked the highest sixteen times, Canada eight times, and Switzerland, Japan, and Iceland have each ranked twice. The year represents the time period from which the statistics for the index were derived. In parentheses
5530-411: Was a constitutional democracy dominated by a commercially oriented oligarchy . During the 1950s, the Panamanian military began to challenge the oligarchy's political hegemony. The early 1960s saw also the beginning of sustained pressure in Panama for the renegotiation of the Hay–Bunau-Varilla Treaty , including riots that broke out in early 1964, resulting in widespread looting and dozens of deaths, and
5609-427: Was created in response to other Europeans trying to take Spanish territory in the Caribbean region. The Isthmus of Panama was placed under its jurisdiction. However, the remoteness of New Granada's capital, Santa Fe de Bogotá (the modern capital of Colombia ) proved a greater obstacle than the Spanish crown anticipated as the authority of New Granada was contested by the seniority, closer proximity, and previous ties to
5688-532: Was divided into several provinces . In 1855, the autonomous State of Panama was created within the Republic out of the New Granada provinces of Panama, Azuero, Chiriquí, and Veraguas. It continued as a state in the Granadine Confederation (1858–1863) and United States of Colombia (1863–1886). The 1886 constitution of the modern Republic of Colombia created a new Panama Department . The people of
5767-541: Was formed about three million years ago when the land bridge between North and South America finally became complete, and plants and animals gradually crossed it in both directions. The existence of the isthmus affected the dispersal of people, agriculture and technology throughout the American continent from the appearance of the first hunters and collectors to the era of villages and cities. The earliest discovered artifacts of indigenous peoples in Panama include Paleo-Indian projectile points . Later central Panama
5846-668: Was home to some of the first pottery -making in the Americas, for example the cultures at Monagrillo , which date back to 2500–1700 BC. These evolved into significant populations best known through their spectacular burials (dating to c. 500–900 AD) at the Monagrillo archaeological site , and their Gran Coclé style polychrome pottery . The monumental monolithic sculptures at the Barriles (Chiriqui) site are also important traces of these ancient isthmian cultures. Before Europeans arrived Panama
5925-475: Was named America's Best Chocolate and Candy Store by Newsweek . In 2023 Rocky Mountain Chocolate divested itself of all assets and marks pertaining to its activity as a marketer and franchisor of a number of frozen yogurt brands held in its U-Swirl, Inc. subsidiary. In September 2023, Rocky Mountain Chocolate Factory announced that it would remove the word "factory" from its name, rebranding to Rocky Mountain Chocolate . Panama Panama , officially
6004-750: Was ranked 82rd in the Global Innovation Index in 2024. Covering around 40 percent of its land area, Panama's jungles are home to an abundance of tropical plants and animals – some of them found nowhere else on earth. Panama is a founding member of the United Nations and other international organizations such as the Organization of American States , Latin America Integration Association , Group of 77 , World Health Organization , and Non-Aligned Movement . The definite origin of
6083-620: Was the easiest way to ship silver mined in Peru to Europe. Silver cargoes were landed on the west coast of Panama and then taken overland to Portobello or Nombre de Dios on the Caribbean side of the isthmus for further shipment. Aside from the European route, there was also an Asian-American route, which led to traders and adventurers carrying silver from Peru going over land through Panama to reach Acapulco, Mexico before sailing to Manila, Philippines using
6162-556: Was used by the UNDP until their 2011 report. The formula defining the HDI is promulgated by the United Nations Development Programme ( UNDP ). In general, to transform a raw variable , say x {\displaystyle x} , into a unit-free index between 0 and 1 (which allows different indices to be added together), the following formula is used: where a {\displaystyle a} and b {\displaystyle b} are
6241-647: Was widely settled by Chibchan , Chocoan , and Cueva peoples. The largest group were the Cueva (whose specific language affiliation is poorly documented). The size of the indigenous population of the isthmus at the time of European colonization is uncertain. Estimates range as high as two million people, but more recent studies place that number closer to 200,000. Archaeological finds and testimonials by early European explorers describe diverse native isthmian groups exhibiting cultural variety and suggesting people developed by regular regional routes of commerce. Austronesians had
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