The Great Depression and the two "lost decades". A comparative analysis of the crises in Latin America under the changes in global hegemony
Keywords:
Systemic Cycles of Accumulation, Hegemony, Sovereign Debt, Latin America, ChinaAbstract
This paper aims to investigate and compare the impact of three major crises in Latin America (the Great Depression of the 1930s, the Lost Decade of the 1980s, and the current cycle of economic stagnation that began in 2014) from the point of view of view of the changes in world hegemony, under the approach of the Systemic Cycles of Accumulation. To do this, the international conditions in each context are examined, the causes of the crises and the resulting changes in the regimes of capital accumulation in the three episodes are identified. The idea that guides this study is that there are certain historical parallels between the current hegemonic transition (with its axis in Southeast Asia) and the crisis of 1930. Like the interwar period, this transition would entail transformations in the regimes of accumulation on a regional and national scale.
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