Three of the approaches (paradigms) to the study of developmentIn their book Latin America Transformed: Globalization and Modernity editors Robert N. Gwynne and Cristobal Kay discusses the fundamental transformation of the essence of Latin America with the advent of modernity and along with it- globalization. There are predominantly four approaches towards the development of this study of which we would discuss three.

The opening page of this book specifies these four approaches by mentioning “Globalization has been associated with a series of economic, political, social, and cultural metamorphoses in Latin America.” (Gwynne, 2004, 1)The economic approach of this book takes the stand of macro economics that defines the nature of cultural transformation of the Latin American population. It has been shown how the intervention of globalization has inflected a cross cultural feature that was unknown before the advent of modernity.The political approach also deals with the same context but here it has been emphasized the nature of power brokerage that has been playing around since the time of modernization and not necessary is the affect of globalization. However, it is also mentioned that globalization is one of the key players to induce the political motives to accelerate and enabled this power brokerage to get a taste of the international environment.

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With the social and cultural area of operation it has been shown how the general mass of Latin America is facing the development of the twenty-first century and this is becoming a tougher challenge in the social context with globalization. Here the approach is almost holistic in relation to the Latin Americans and the approaching globalization where it is found that new social structures are being formed with the development of democracy fast becoming the way of life. Reference:Editors: Gwynne, Robert N. & Kay, Cristobal; (2004); Latin America Transformed: Globalization And Modernity; Hodder Arnold Publication; 2nd edition; pg 1.