LATIN AMERICA AT THE CROSSROADS: AN INTRODUCTORY ESSAY

From: NACLA Report on the Americas | Date: November 1, 2003| Author: | Copyright information

Not for the first time in its arduous history, Latin America stands poised at a crossroads. Continuing along the present path of deepening indebtedness, never-ending recession, plummeting employment and household impoverishment is simply unsustainable. It would be a mistake to conclude that the dominant economic policy paradigm in the region is exclusively responsible for this sorry performance. Nonetheless, the verdict is now in on the ability of the market-based economic policies associated with the Washington Consensus to generate positive results: The market-driven model has failed ...

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