This classic text about imperialism retains much of its power decades after it was penned. The anger that motivated the author did not prevent him from putting together coherent analysis. His thesis about the phenomenon of underdevelopment is still worthy of consideration in a world apparently dominated by hegemonic powers and rampant multinational corporations.
“Underdevelopment isn’t a stage of development, but its consequence. Latin America’s underdevelopment arises from external development, and continues to feed it.”
Despite the political progress achieved by the populist left in countries like Venezuela, the economic problems of South America have not gone away. The price of oil is causing havoc in that nation. Populist governance has also struck economic difficulties in Argentina. Certainly, it might be tricky to argue that the commodities of these countries get fair prices in the current time.
Further, political interference in the region by the USA has not ceased. This was highlighted by the response to the coup in Honduras a few years ago. Changing the world is a problematic and uneven process, and it often seems like capital flows to those who need it least.