Underdevelopment in Peru: A Profile of Peripheral Capitalism

This book examines the persistence and structural underpinnings of underdevelopment in Peru, exploring the history of the country's post-colonial entrance into the world economy and the neoliberal extractive development model adopted in the 1990s. It is of interest to researchers in politics, economics, critical development studies, and Latin American studies.

Format: Hardback
Length: 220 pages
Publication date: 03 August 2023
Publisher: Taylor & Francis Ltd

When Peru grapples with the lingering effects of COVID-19 and the unraveling of corruption scandals involving five former presidents, this book emerges as a valuable exploration into the enduring challenges of underdevelopment in the country. Jan Lust delves into the historical roots of Peru's underdevelopment, tracing the structural issues that emerged after the country's post-colonial integration into the global economy and the subsequent adoption of a neoliberal extractive development model in the 1990s. Lust emphasizes the importance of understanding Peru's unique political, economic, and social context to chart a path toward sustainable development. This comprehensive work will appeal to scholars and researchers engaged in politics, economics, critical development studies, and Latin American studies.

Peru's historical journey is marked by a series of challenges that have contributed to its underdevelopment. Following its independence from Spain in 1821, Peru faced the daunting task of rebuilding its nation and establishing a stable government. However, the country's post-colonial entrance into the world economy brought about significant structural problems. The adoption of neoliberal policies in the 1990s, aimed at promoting economic growth and reducing government intervention, further exacerbated these issues.

One of the key structural problems that Peru faces is its unequal distribution of wealth and resources. The country has a large population, but many of its citizens live in poverty and face limited access to basic services such as healthcare, education, and clean water. This inequality has been exacerbated by the concentration of wealth in the hands of a small elite, while the majority of the population struggles to make ends meet.

Another structural challenge is the country's weak institutions and governance structures. Political corruption, lack of transparency, and a lack of accountability have been persistent issues in Peruvian politics, leading to a lack of trust in government institutions and a decline in public participation. This has hindered the country's ability to implement effective policies and programs for development.

In addition to these structural challenges, Peru also faces environmental challenges that contribute to its underdevelopment. The country is home to a diverse range of ecosystems, including the Amazon Rainforest, which is one of the world's most important biodiversity hotspots. However, deforestation, pollution, and climate change have posed significant threats to the Amazon and other ecosystems, leading to the loss of livelihoods, environmental degradation, and social unrest.

To address these challenges, Peru has implemented a series of policies and programs aimed at promoting development and reducing poverty. These include the National Development Strategy, which aims to reduce poverty by 20% by 2021, and the Programa Nacional de Desarrollo Humano, which provides social protection and support to vulnerable populations. However, the effectiveness of these policies and programs has been limited by the lack of political will, corruption, and inadequate implementation.

In conclusion, Peru's underdevelopment is a complex issue that requires a comprehensive and multi-faceted approach. Understanding the historical roots approach, the structural underpinnings of underdevelopment, and the specific political, economic, and social conditions that contribute to it is essential to chart a path toward sustainable development. This book offers valuable insights into the challenges faced by Peru and provides a framework for addressing them. By promoting transparency, accountability, and inclusive governance, Peru can overcome its structural challenges and build a more prosperous and equitable society for all its citizens.

Dimension: 234 x 156 (mm)
ISBN-13: 9781032266589