Socioeconomic setback and Lags in Latin America: A Two-Hundred-Year-Old Challenge

Abstract

The Latin American region faces weaknesses due to the setback of its productive structure, which translates into profound social inequality, gaps in job creation, and lack of access to services such as health, hygiene, and education. At the end of the first quarter of the 21st century, there are rivalries between world powers and stagnation in global economic growth, particularly in developed countries. Within this framework, these weaknesses have worsened, and the results of the free market, a pillar of the stage of capitalism known as globalization, have been called into question; this is compounded by extreme poverty, climate change, wars, and humanitarian crises. Consequently, we may be facing a change of era, because the mechanisms of globalization are reaching their limits for generating economic growth. Therefore, this is an favorable moment to reflect on a change of direction, one conducive to resolving not only the challenges generated by the recent past, but also those arising from the economic structure, which has been shaped by the development of the international economic system and internal processes over two hundred years.