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In the twentieth century, Latin American militaries developed economic industries, organised businesses, and provided security and development assistance in lieu of the state. Despite shifts to democracy and the market, the military remains an economic actor in many countries in the region. This article seeks to open debate and suggest ways to approach the subject theoretically. It examines the concept of military entrepreneurs and scholarship on the topic, and then suggests how three approaches from the domain of comparative politics - rational, structural and cultural - can be useful to develop theoretical frameworks for studying the military's role in the economy. [ABSTRACT FROM AUTHOR]