Reflections on Economic Development: Toward a New Latin American Consciousness
By Enrique V. Iglesias
Inter-American Development Bank, 1992, 158 pp.
Enrique Iglesias, president of the Inter-American Development Bank, provides a very effective overview of the economic consensus now emerging in Latin America. Iglesias sees a repudiation of doctrinaire excesses on both the right and the left, with an agenda of workable and realistic policies replacing both the Pinochet neoliberal model and the traditional state-dominated, protectionist model. The key elements of these new policies are concern over the size and effects of the transfer of resources needed to service foreign debt; the importance of combating inflation; the need to find imaginative solutions to problems of extreme poverty; the need for trade liberalization; and the necessity of reforming the state. This is a book of style, substance, and analysis, marking a major shift in thinking among Latin American economic policymakers.