Texte présenté à la conférence de l’Association for Evolutionary Economics (AFEE), Atlanta, Géorgie, 2-5 Janvier 2010.

Introduction

The aim of this article is to analyze the current phase of the global crisis that began in the United States in 2007 and the way it has manifested itself in Latin America. The current phase, which began during the last quarter of 2008, is characterized by the interaction of the financial crisis —far from having been overcome— and the deepening and universal expansion of recession. Section 2 summarizes my position about the nature of the global crisis. Section 3 presents a proposal about the stages this crisis has already gone through. Section 4 examines the main features of the present stage of the crisis : the advance of recession in the world economy and the development of deflation. Section 5 looks at the effects of the crisis in Latin America, and, finally, Section 6 presents some conclusions and perspectives.

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