Undoing the Damage: The Growing Backlash to Neoliberalism in Latin America

Abstract

This paper looks first at the criticisms of neoliberal structural adjustment articulated by the leaders of Latin America’s Jesuits in 1996, and reports on evidence suggesting their criticisms remain valid a decade later. The paper then documents ways in which neoliberal hegemony is being challenged in the region. This section discusses changes in the political landscape, the rise of grassroots movements including the World Social Forum, the influence of organized labor, weakening of international financial and trade institutions, and growing heterodoxy in academic economics.