The book highlights how Latin American countries transitioned from old forms of political and economic dependence to a new kind of dependency on international capitalism. This dependency is not just about the domination of the world market but also involves complex interactions between economic drives, political structures, social movements, and historical alliances.

Cardoso and Faletto identify four general stages in Latin America's economic development: the early outward expansion of newly independent nations, the political emergence of the middle sector, the formation of internal markets in response to population growth, and the new dependence on international markets. These stages provide a framework for understanding the region's economic trajectory.

The authors emphasize the importance of considering the unique histories of individual nations while analyzing the broader economic trends. They argue that the economic dependency of Latin America is shaped by a complex interplay of economic, political, and social factors, making it essential to understand these dynamics to grasp the region's development challenges and opportunities.