Abstract
Abstract.Since Uruguay's return to democracy in 1985, a shift in economic and social policy has radically changed the country. The outcomes have been shaped by adjustment to international circumstances “by default”, stop‐go market reforms and the inconsistent pace and content of reforms. Unlike other countries in the region, Uruguay has not followed a resolutely neo‐liberal course, but rather a hybrid one. The end result has been a liberal labour regime coupled with a three‐dimensional social policy balancing the market, the old corporatist welfare State and the new welfare state targeting specific beneficiaries.
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