1 of 20

Write now Article Tools

The 21st Century Socialism movement in Latin America will affect the region much the same as the Social Democracies in Western Europe and the New Deal Liberalism in the United States affected the advanced countries in the latter half of the 20th Century - it will improve the living standards of millions of people while also improving the world economy.

Far from being a revolutionary shift to the old Communist centrally planned economies, 21st Century Latin American Socialism is not a rejection of the capitalist world economy. Rather, it is a rejection of their place in the world economy that is dictated to it by the multinational corporations and institutions of the advanced countries. Additionally, the movement is not original enough to be considered a new "third way" between capitalism and communism. In fact, the methods and motives are quite similar to those of the advanced countries as they attempted break out of the great depression of the 1930's. Of course, there are numerous differences, historical, cultural, and economic, between the advanced, industrialized, countries during the great depression and the underdeveloped, former colonies of Latin America in the 21st Century. But the economic and political situation is similar enough that it makes sense for Latin America to use the same tactics that the advanced countries once used.

For instance, in the 1930's the advanced countries were suffering from high unemployment and poverty which was caused, or at least not alleviated by, Laissez-Faire economic policies which held that government should not interfere with the economy and that free market forces would eventually solve the economic crisis. When the economy failed to heal itself the governments had to do something to alleviate the suffering of their people, so they intervened with programs like unemployment insurance, labor protection laws, industry regulation, and increased government employment. Though the world economy did not completely recover until after World War II, the increased government spending led to increased employment and more money for the consumers to spend, thus increasing demand and starting an economic growth cycle which lasted for 25 years and resulted in higher living standards for all.

The Latin American countries, like the rest of the under-developed world, are currently in a similar situation in that they suffer from high unemployment and massive poverty (of course, the under-developed countries have an additional problem

• 1
• 2
• next page >>

Add your voice

Know something about The future of Socialism in Latin America?
We want to hear your view. Write now!