What Will Be the Instruments of Latin-American Advancement?

Abstract

What are the elements that Latin America needs in order to achieve economic development? The process of economic development is an extremely complex one, calling for means and procedures which cannot be specified with mathematical exactitude. Examination of important and well-known points of view on the subject indicates that these elements include international co-operation, which really embraces all the others; agrarian reform, to increase and diversify agricultural output, train the farmers, and build and improve penetration roads to transport crops; rational development of natural resources such as forests; encouragement of industrialization by means of stabilized international markets and more equitable trade policies on the part of the more developed countries —especially the West European countries; and external co-operation by other nations in the form of public and private investment and technological assistance. The economic integration of Latin America would also be an effective means of furthering economic development. The Alliance for Progress is highly useful in helping the Latin-American countries to combine these elements to bring about the emergence of economic development, for example, by undertaking surveys of the needs of Latin-American countries, by evaluation of development projects and external financing, and by channeling the funds for implementation of programs.—Ed.