Specialization and crisis of neoliberalism in Latin America

Abstract

The author analyzes two of the main effects of the crisis of neoliberalism in Latin America: the specialization of the productive apparatuses as a reaction of capital in front of the crisis, and the social impact of salary, employment and income levels. The author argues that the Mexican financial and economic crisis of 1994, the first in the era of globalization, reveals the deep structural contradictions of global neoliberal policies.