Monetarism and Beyond: The Dilemma of the Southern Cone Countries: A Review Article

During the past 10 years, the people of Argentina, Chile, and Uruguay have endured exceptionally coercive military dictatorships. In each country, the economic programs put into effect over the decade have been remarkably uniform, grounded in the same neoclassical roots and with similar social objec...

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Bibliographic Details
Published in:Journal of economic issues 1985-12, Vol.19 (4), p.923-937
Main Author: Street, James H.
Format: Article
Language:English
Subjects:
Colleges & universities
Dictators
Economic conditions
Economic development
Economic policy
Economists
GDP
Gross Domestic Product
Monetary policy
Political leadership
Recessions
Structuralism
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Summary:During the past 10 years, the people of Argentina, Chile, and Uruguay have endured exceptionally coercive military dictatorships. In each country, the economic programs put into effect over the decade have been remarkably uniform, grounded in the same neoclassical roots and with similar social objectives. In each case, the programs have failed. Only 2 groups have pursued systematic empirically grounded research over the decade that would lay a basis for alternative strategies of development once the police states and their cadres of orthodox economists were replaced. These groups are the Corporation for Latin American Economic Research (CIEPLAN) and the United Nations Economic Commission for Latin America (ECLA), both located in Santiago, Chile. They are effective analysts of the institutional and structural deficiencies of their economies. They believe in the need for basic institutional reform, above all a return to participatory democracy and the abandonment of slavish devotion to neoclassicism.
ISSN:0021-3624
1946-326X
DOI:10.1080/00213624.1985.11504443