Adding Insult to Injury: The COVID‐19 Crisis Strikes Latin America

Juan Grigera

Development and Change, 2022, vol. 53, issue 6, 1335-1361

Abstract: This article takes on the task of historicizing the global crisis that unfolded after the outbreak of COVID‐19, focusing on its particular dynamics in Latin America. It proposes a distinction between a first phase — an unmitigated crisis that lasted until the end of 2020 — and a second phase in the period since then, that is defined by managed crisis and lukewarm economic recovery. The first phase showed a profoundly fragmented local state response, the breakdown of capital's ‘normal’ capacity for reproduction, and a disarticulation of the world order. As of 2021, a different kind of crisis has been evident: the response has been more emphatic and more effective in re‐establishing accumulation and a weak and fragile international order, but at a cost to legitimacy whose full extent is yet to unfold.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bla:devchg:v:53:y:2022:i:6:p:1335-1361

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