The purpose of this article was to examine and evaluate the historical and developmental process of globalization in Latin America from the 1970s to the second decade of the 21st century and make proposals for the additional developments needed in education, society, labor, management, politics, economics, business, government, and legal areas in order for the region to attain higher developmental levels in regional integration and globalization on a continuous basis. It also examined the advantages and disadvantages of globalization as perceived by its proponents and adversaries in the region.