1945

Contrasts and differences in the process of Economic Development

We have defined the economic development of Latin America as a new stage in the world-wide extension of the capitalist technique of production. To a certain extent, we are now witnessing a process similar to that which took place in the nineteenth century, when countries which today are great centres began their industrial development. The phenomena are not, however, identical, for conditions of the international economy which now prevail are, as has already been shown, very different from those which obtained then; the later phenomena present unique characteristics which had no cause to develop in the earlier centres, at least not in so manifest a form. We shall consider this aspect of the problem in the present chapter.

Related Subject(s): Economic and Social Development
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