Four approaches to the political economy development of Latin America

1718 Words4 Pages

The study of development in Latin America has been approached from a variety of academic disciplines. International Political Economy scholars have provided a number of different approaches for studying, analyzing and understanding the political and institutional constrains that have shaped the development of Latin American countries. They have also incorporated into the analysis variables such as the influence of international organizations and the economic and class history, and its relation with one of the principal characteristics of Latin American countries: the disparity between the wealthy and the poor.

Throughout this work, I intend to summarize and review four of the most representative theories that have helped shape the study of the economic development of Latin America: Hegemonic Stability, Dependency, Class Analysis and Neoliberalism.

The need for a more accurate theoretical framework, [than modernism] to analyze and interpret the causes for development and underdevelopment, and a possible way of explaining the unrelenting poverty of the underdeveloped countries gave rise to the Dependency Theory.

Under the umbrella of this theory is the acknowledgement that the nation-state forms part of an International System, and is not as an individual, truly independent entity. The system consists of two sets of states, generally described as core (developed) and satellite (underdeveloped) countries.

This theory states very clearly two facts: a) the economic dynamic that results from the relationship between core and satellite countries does not necessarily translate into growth in the poorer, less industrialized entities, but instead tends to intensify the unequal developing patterns, and b) developed countries were ...

... middle of paper ...

...t repression of these movements not only failed to suppress the mobilization and the demands for change, but “actually helped forge revolutionary coalitions that fought for control of the state”.

The social discomfort suffered as a consequence of class disparity in most countries in Latin America has evolved into a steady, more organized Electoral Leftist trend. Starting in 1990 and up until the early 2000s countries like Chile, Brazil, Venezuela and Bolivia have elected political leaders from leftist parties. Although the circumstances are different for every country, the performances of Presidents like Michelle Bachelet and Luiz Inacio “Lula” da Silva and even Evo Morales and Hugo Chavez (in the very beginning of the movements that put them in power) have helped legitimized a way of govern that is based on the interests of what Marx called the working class.

More about Four approaches to the political economy development of Latin America

Open Document