Latin America at the End of the Millennium

Abstract

A good place to start a review of Latin American capitalism is Harry Magdoff's Age of Imperialism. The last two decades of capitalist development in Latin America have witnessed an unparalleled period of prosperity for U.S. multinational banks and corporations as well as nearly unchallenged political power exercised from Washington. Notwithstanding the intellectual consensus that has formed around the concept of globalization, the dynamics of these developments in Latin America can best be understood in terms of the workings of Euro-American imperialism. Although it has long and deep roots in Latin America, it was not until the 1980s and 1990s that imperialism, arguably the highest—and final—stage of capitalism, effectively came of age in the region.

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