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Poverty and Inequality in Ecuador, Brazil and Mexico after the 2008 Global Crisis

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Lukasz Czarnecki, Erik Balleza and Mayra Saenz

How deep is the impact of the 2008 global crisis on Ecuador, Brazil and Mexico? Although having similar experience with the policies of the Washington Consensus, Ecuador, Brazil and Mexico have established different concepts of social and economic development during the last decade. These differences could also be observed during and after the global crisis in 2008. In contrast to the social anti-neoliberal policy implemented in Ecuador and the progressive social and economic policy in Brazil, Mexico has been carrying out the policy of continued neoliberalism. One of the conclusions drawn is that Mexico faces abysmal inequalities and persistence of poverty, which are not only explicated by historical roots, but also by strong applications of neoliberal policies.
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Part III

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Final conclusion

Lukasz Czarnecki

“The banks in America went in a loss, then the big people went in a loss, then the scrap market in the slum areas came down, too”: This was how he explained the global economic crisis. A kilo of empty water bottles once worth twenty-five rupees was now worth ten, and a kilo of newspaper once worth five rupees was now worth two: This was how the global crisis was understood.1

Three very different countries on the same continent reveal the nature of modern neoliberal times. Massive exclusion and extreme deteriorated conditions of surviving in times of the global crisis are not only characteristics of Mumbai undercity in the analysis of Katherine Boo, but they also occurred in Latin America. Nevertheless, three cases analyzed in this volume show the negative effects of the 2008 financial crisis common in most of the countries during the time of the global crisis, moreover, peculiar differences between three Latin American countries. One might think that Latin America is a homogenous region, but in fact, it is not. Ecuador, Brazil and Mexico present different macroeconomic characteristics, distinctive anti crisis policies, with diverse outcomes to it.

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