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Latin America: The End of An Era

Latin America: The End of An Era

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This overview article by Mark Weisbrot was published in the International Journal of Health Services, volume 37, number 3. It looks at Latin America's political shift over the last several years.It looks at Latin America's political shift over the last several years. The author argues that these changes have largely been misunderstood and underestimated here for a number of reasons:
This overview article by Mark Weisbrot was published in the International Journal of Health Services, volume 37, number 3. It looks at Latin America's political shift over the last several years.It looks at Latin America's political shift over the last several years. The author argues that these changes have largely been misunderstood and underestimated here for a number of reasons:

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Published by: Center for Economic and Policy Research on Apr 18, 2008
Copyright:Attribution Non-commercial

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12/07/2012

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Latin
 
America
 
The
 
End
 
of
 
an
 
Era
 
Mark
 
Weisbrot
 
December 2006
Center
 
for
 
Economic
 
and
 
Policy
 
Research
 
1611
 
Connecticut
 
Avenue,
 
NW,
 
Suite
 
400
 
Washington,
 
D.C.
 
20009
 
202
293
5380
 
www.cepr.net
 
 
Latin America: The End of an Era
ii
Contents
 
Executive Summary.............................................................................................................................1
 
Introduction..........................................................................................................................................2
 
Causes and Consequences: Latin America’s Long-Term Economic Failure..............................3
 
 The Collapse of a Cartel......................................................................................................................4
 
 A Brighter Future...............................................................................................................................10
 
 Washington Confronts Venezuela...................................................................................................14
 
References...........................................................................................................................................21
 
 About the Author
Mark Weisbrot is co-director of the Center for Economic and Policy Research in Washington, D.C. This article was published by the International Journal of Health Services, Vol. 36, No. 4(2006).
 
Center for Economic and Policy Research, December 2006
1
Executive
 
Summary
 
 This paper looks at Latin America's political shift over the last several years. The author argues thatthese changes have largely been misunderstood and underestimated here for a number of reasons:
Latin America's unprecedented growth failure over the last 25 years is a major cause of thesepolitical changes and has not been well-understood
 The collapse of the IMF's influence in Latin America, and middle-income countries, is alsoan epoch-making change
 The availability of alternative sources of finance, most importantly from the reserves of the Venezuelan government, is very important
 The increasing assertion of national control over natural resources is also an important partof the new relationship between Latin America and the United States The author argues that for these and other reasons, the relationship between Latin America and theUnited States has undergone a fundamental and possibly irreversible change, and one that opens the way to new and mostly more successful economic policies.

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