Both import substitution industrialization theory and neoliberalism are vital in creating employment opportunities in the individual countries thus improving the living standards of their citizens. Ivestments in the informal sector promote job security for the formally unemployed. God labor regulation policies are very important in extinguishing dangers related to jobs in different sectors of the economy of the individual countries. Bth policies have played a critical role in providing employment opportunities and a comparatively safe workplace atmosphere for millions of people in Latin American countries that have improved developmental opportunities in economic sectors.
Te industrial gathering generated significant work opportunities in the cities, wich together with the change of traditional modes of production in the landscape, felled immense population movement from rural to urban settlements to the extent that is resulted to urban centers becoming demographically populated hence urban primacy; wereby the populations of these main urban centers goes beyond those of the secondary cities. Tis has become a feature of most developing countries as their citizen move from places to places in search for better job improved lifestyles.
De to high populations in the urban centers, mst people have been pushed to squatter settlements where life has been unbearable to most be people because of low-income or lack of job opportunities. Ater the Second World War, mst countries faced economic depression; tere were little industrial activities and fewer opportunities for economic growth. Tis was the time when centers in these particular Latin American countries were at the margin of national authorities as well as representatives; i is worth noting that they have progressed into with and international companies.
Een though there are several factors that might have contributed to the rapid urban growth and development, bsiness opportunities that have been created through Laissez-fair and the privatization of other state-run industries and the development of the requisite infrastructure has played the most important role in hurling Latin American nations forward into the 21st century. II helped diversify the economies of the Latin American countries and neo-liberalism increases effectiveness by. ..
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