The Impact of Globalization and the Information Revolution on Latin America

Abstract

Two of the outstanding phenomena of the last couple of decades are ‘globalization’ and the ‘information revolution’ upon which the so-called ‘information highway’ has been built. The current information revolution, like its predecessor, has created many jobs while destroying many others, thus leading to change and uncertainty in both the labour market and society. The same may be said of globalization. It remains to be seen what their longer-term impact on average incomes, income distribution, poverty and marginalization will be; and until this becomes clearer it is natural that many fears and uncertainties will accompany the hopes and expectations these phenomena create. Given the turbulent economic trends in Latin America over the last two decades, it is natural that such mixed feelings are common in that region.