There has been a radical series of transformations in the economic, political, social, and cultural life of Latin America. This text offers a holistic approach to understanding these changes, relating them to the wider processes of modernization and globalization. An international team of contributors from a range of disciplines contextualize their different fields within a broad political economy approach that provides a critical yet balanced analysis of the neoliberal policies provided by nearly every country in the region over the last two decades. They then argue that a new political economy is being constructed in Latin America; as national economies become radically restructured and transformed, democracy becomes the institutional norm and new social arrangements are being created within national societies.