The aim of this article is to analyze the current phase of the global crisis and the way it has manifested itself in Latin America. The global crisis is the most important capitalist crisis since World War II. It is a new type of debt-deflation crisis, highlighting the limits of the finance-dominated regime of accumulation and characterized by securitization. Latin American countries have not been immune to the global crisis. Since it sets limits on globalization, the impossibility of maintaining export-driven accumulation sustained by restrictive monetary and fiscal policies becomes clear. This time, there will be no way out in external markets for any country. That fact will force them to restructure productive systems and search for a way out in domestic markets and in regional spaces for integration.

This article is devoted to analyze changes in economic policy to be adopted by Mexico if a national development project were implemented. Starting from an evaluation of the main economic and political outcomes of Vicente’s Fox administration, the author proposes an alternative development strategy which permits Mexico to overcome economic stagnation. That strategy would be based in recovering the internal market as the dynamical focus of the economy with the purpose of satisfying basic needs of people. To be successful this strategy should to confront the "critical knots" of the Neo-liberal model: to reverse the uneven distribution of income; abandoning the fixing of restrictive monetary, fiscal and exchange rate policies; and mobilizing economic surplus by means of a profound revision of debt service schemes. It concludes that to implement a national development project it is required a political and economic strategy to dismantle neoliberalism, which is an antinational structure of power.

Analysis of the impact of neoliberalism on Latin America and of the situations that conducted to its adoption. The author examines the globalization process, its ideology and the way these nations have entered into this dynamic. Likewise, he states economic stagnation and poverty seriously question this model, and he suggests the need of reevaluating the contributions of development theory and building new alternatives. To do so, he makes a conceptual revision of development, with special emphasis on the Latin American theory contrasting the neoliberal position, Guillén suggests strategies that allow to recover growth and to increase employment by means of a balanced vision among the State, the market and the civil society.

Análisis de las repercusiones del modelo neoliberal en América Latina y revisión de las condiciones que condujeron a su adopción. El autor también examina el curso del proceso de globalización, la ideología que lo sustenta y la manera en que los países latinoamericanos se incorporaron a esa dinámica. Sostiene que el estancamiento económico y la pobreza cuestionan con severidad el modelo neoliberal, por lo que propone reevaluar los aportes de la teoría del desarrollo y construir alternativas viables. Con tal fin hace una revisión conceptual del desarrollo, con particular atención a la teoría latinoamericana, que contrasta con las propuestas neoliberales. Asimismo, Guillén propone estrategias que permitan recuperar el crecimiento y elevar los niveles de empleo mediante una visión equilibrada entre Estado, mercado y sociedad civil.