Friedman versus Keynes in Latin America

Abstract

In a number of Latin American countries, the influence of John Maynard Keynes and his Latin American proponent Raúl Prebisch, was forced during the seventies to give way to the liberal-monetarist principles of Milton Friedman. What advantages and disadvantages have ensued from this change of course? Do Friedman's theories point a way out of Latin America's present economic and social problems