The paper observes the book “Latin America in the Context of the Global Crisis” published by the Institute of Latin America (Russian Academy of Sciences) in 2012. This review has been accompanying by comments concerning the general character of the 2008–2009 economic crisis. The author considers the methods of anti-cyclical policy as well as their results in Latin American countries. At the same time, as it is underlined in the paper, the model of social-economic development of Latin America in the first decade of the millennium has reached its limits and has to be changed for more innovative and competitive one.