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From Menems new Thatcherite experiment in Argentina, through Fujimoris unexpected victory in Peru, to Collors near defeat at the hands of the rapidly growing Workers Party of Brazil, Latin American politics is once again in turmoil. Whilst military dictators have been dumped from office, their liberal and populist replacements have found television exposure and playboy reputations insufficient to hold together societies still remorselessly squeezed insufficient to hold together societies still remorselessly squeezed by United States foreign policy. But US influence in the subcontinent is not only under siege from the impoverished masses of increasingly unstable states; it is also threatened by intensifying superpower competition as Japan and a unifying Europe mount their challenges for world dominance.
In this wide-ranging and original polemic, Petras and Morley examine the social structures which emerged from neo-liberal economic policy during the 1970s and 1980s. they show how Latin American society is increasingly organized around a continental bourgeoisie maintaining high levels of foreign investment, a national bourgeoisie operating on the margins of legality and committed to both economic deregulation and public-sector activity, and a growing class of low-paid and poorly employed workers subject to the demands of export-oriented capital into international financial circuits is matched by technical and intellectual integration, with a collapse into conformity of formerly critical groupings.
For students and the interested general reader, this balanced and rigorous analysis of state power and social form provides a substantial new framework in which to consider the exigent questions of US-Latin American relations.

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CHOICE Review

Petras (SUNY) and Morley (Council of Hemispheric Affairs) have put together a book that does not live up to its title. There is only a brief discussion of the ways in which US hegemony is under seige, and that analysis is a rehash of the economic competition and decline arguments presented elsewhere. Instead of expounding upon the current status of the US in the hemisphere, the authors present a series of disjointed chapters on the changing nature of class struggle and bourgeois economics in Latin America. The quality of the chapters vary from a familiar diatribe against past US support for Latin American dictators to a provocative attack on intellectuals specializing in the region who have left their traditional roots as leftist critics to join the grant money bandwagon. The authors do provide a helpful review of how market forces and external banking pressures have left Latin America more divided and ripe for a new wave of revolution. Their chapters on social movements, the Argentine business climate, and Chilean class politics serve to remind readers that the move away from statism will in no way guarantee real reform and social justice. Despite its thematic failings and its reliance on Marxist jargon, the book is one of a few critiques of the contemporary development paradigm currently at work in Latin America. Graduate level. M. J. Kryzanek Bridgewater State College