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SILENT REVOLUTION
The Rise of Market Economics in Latin America
by Duncan Green
"Green presents an excellent overview and analysis of the
trajectory of the Latin American economies and societies
since the onset of the debt crisis in mid-1982. His popular
style of writing makes this volume accessible to general readers,
while his sure grasp of the economic subtleties will appeal to
the expert.... There is a wealth of statistical data and a useful
country-by-country guide to the region at the end of the book.
This wonderful introduction to the complexities of the economic
crisis still facing the region should attract a wide audience."
--Choice, American Library Association
Since 1982 Latin America has embarked on a profound, but almost unnoticed,
economic revolution. Formerly protectionist economies from Argentina to
Mexico have turned to the free market, privatization, foreign investment,
and exports to provide growth and prosperity. In SILENT REVOLUTION, Duncan
Green traces the roots of this neoliberal transformation to the impact of
the debt crisis and subsequent IMF-encouraged austerity policies, both of
which contributed to the failure of state-led economic models in the region.
He outlines the modest macro-economic successes of the neoliberal model and
then contrasts those successes with their devastating impact on the poor.
SILENT REVOLUTION concludes with a look at popular alternatives to what has
become an economic model of enormous social and environmental cost.
Duncan Green is the author of Faces of Latin America, Guatemala: Burden of
Paradise, and Nicaraguans Talking, as well as many articles on Latin America.
A Latin American Bureau book distributed by Monthly Review Press
ISBN: 0-85345-969-X paper/$19.00/266 pp.
development/economics/Latin America
Contents
Introduction
1. State vs. Market: The Rise and Fall of Import Substitution
2. Poverty Brokers: The IMF and the World Bank
3. Silent Revolution: Latin America's Economic Transformation since 1982
4. Silences of the Revolution: The Human and Environmental Costs of Adjustment
5. Trading Places: Latin America in a Changing World Economy
6. Export or Die: Export-led Growth and Regional Trade
7. For and Against: The Politics of Neoliberalism
8. Other Paths: The Search for Alternatives
Conclusion
Appendix A Country-by-Country Guide to the Latin American Economy 1982-94
Appendix B Rival Economic Models: Comparison of Neostructuralism, Import
Substitution, and Neoliberalism
Glossary
Further Reading
Index