The Current Crisis in Latin America and the International Economy

Authors

  • Arthur MacEwan

DOI:

https://doi.org/10.14452/MR-036-09-1985-02_1

Keywords:

History, Imperialism

Abstract

An economic crisis is a period of change, a historical turning point. The old institutions that gave structure to economic relations can no longer function, severe disruptions of production and exchange occur, and social conflicts become intense. In such circumstances, there are ever-present dangers of political reaction and retrogression, but there are also opportunities for progressive change. In the underdeveloped world—plagued as it is by instability, dependency, and inequality—economic crises are not rare. Indeed, one might go so far as to assert that the condition of underdevelopment is a condition of perpetually recurring crises. Accordingly, we see among the underdeveloped nations focal points of both revolutionary progress and reaction.

Published

1985-02-01

Issue

Section

Review of the Month