Written by a top scholar on social security in Latin America and the Caribbean, this book assesses the effects of the world economic crisis on social security and welfare in the region. Drawing on the impact of and lessons from previous crises, Carmelo Mesa-Lago identifies the strengths and weakness of Latin American social security before the current global crisis. He evaluates the event’s actual and potential effects on pensions, health care, and social assistance programs, based on a taxonomy of three groups of countries. The book ends with a summary of policies adopted by some countries and the author’s own recommendations on social policies to lessen the adverse outcomes of the financial crisis. Latin America’s pioneering social-welfare reforms make this book important for other regions of the world, both developed and developing.