Published online by Cambridge University Press: 02 January 2018
Latin American societies and economies are. in a world of change and transition. The past decade, from 1973 to the present, has been for them an era of anxiety on the one hand and of opportunity on the other, a paradoxical era in which prospects for development had to compete with the high social costs of stagnation in many instances.
Energy was the catchword, and the name of energy was oil. Its price, its availability, and its promise (a road to riches for those fortunate enough to possess it, a threat of increasing poverty for those unfortunate enough to have to buy it) brought turmoil to the economies, and the bodies politic, of Latin America.