The Two Latin Americas Critique - Essay Example

European colonization had a great influence on Latin America. One of the key areas of influence was the Latin American economy. As the article above highlights, there are two different forms of economies in the region, and this highlights how the different European countries that conquered Latin America had different economic policies and approaches. For example, Spain conquered Latin America to exploit the natural resources in the region and export them to Europe. This form of exploration favored the state-controlled type of economy, which, according to the article, persists today. On the other hand, countries such as Netherlands and England favored free trade where they allowed for the production of sugar, cotton, and tobacco, which were sold to other countries for profit. These were the basis of globalization and free markets.

This explains why certain countries in the region have shown greater economic success than others. In the article for instance, Luhnow argues that the Pacific-facing countries have shown higher levels of economic growth by taking advantage of globalization compared to their Atlantic-facing counterparts who have favored state controls. For example, the author notes that Argentina has immensely suffered from heavy-handed regulation. This article gives a clear picture of how Latin America has been influenced by the different European countries that colonized the region.