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Journal Article

The Neoliberal Turn in Latin America: The Cycle of Ideas and the Search for an Alternative

Ana Margheritis and Anthony W. Pereira
Latin American Perspectives
Vol. 34, No. 3, Contested Transformation (May, 2007), pp. 25-48
Published by: Sage Publications, Inc.
Stable URL: http://www.jstor.org/stable/27648021
Page Count: 24
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The Neoliberal Turn in Latin America: The Cycle of Ideas and the Search for an Alternative
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Abstract

The role of ideas has been neglected, in comparison with the role of interests and institutions, in the literature on neoliberal reform in Latin America. While ideas were not the primary cause of neoliberal reform, their development, articulation, and dissemination are a significant part of the story of the rise and fall of the "Washington Consensus." The neoliberalism of the 1980s and 1990s lost credibility and capacity to provide politically feasible policy guidelines because it was based on an elitist, exclusionary pact among small groups of experts and elites representing the interests of transnational capital. Only by understanding the origins and limitations of the ideas behind neoliberal reform can a new, more inclusive economic model for Latin America be created.

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