Introduction

This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book begins with a historical analysis of global economic and institutional changes that presaged the rapid growth of debt in Latin America and determined the implementation of stabilization policies. It focuses on the structure of national economic stabilization policies and their impact on income distribution. The book explores the Argentine case to consider one of the consequences of a principal International Monetary Fund condition for loan rescheduling, namely, declines in real wages. It draws on a specific dimension of Latin American society: demographic structure and processes, regional development, urban social structure, and political structure. The book considers the principles of an alternative regional planning strategy for Latin America within the context of internationalization processes that have made austerity policies necessary. It provides a comprehensive review of macroeconomic policy under the Austral and Cruzado Plans.