ABSTRACT
Profound social, economic, cultural, and political transformations are sweeping through Latin America in the early twenty-first century, affecting all institutions and areas of life. Throughout Latin America's history its leaders and people have debated their heritage and future: Western or non-Western; feudal, capitalist, or socialist; First World (developed nations) or Third World (developing nations); evolutionary change or revolutionary change. Driving these changes are economic development, social change, democratization, and globalization. Globalization affects Latin America in all areas of life: culture, society, politics, and economics. Latin America is now part of a global market economy. The economies of Latin America are similarly diverse, largely because of the variety of natural resources in the region. In most Latin American countries agriculture and mining are still important to the economy, but now industry, manufacturing, telecommunications, construction, tourism, and other services have become important as well.
