Source: World Bank Economic slowdown puts the brakes on middle class growth in Latin America | The Data Blog
The Great Escape into the middle class in Latin America and the Caribbean (LAC)
30 May 2016 Leave a comment
in development economics, economic history, growth disasters, growth miracles Tags: Latin America, The Great Escape, Withering away of the proletariat
Latin America is becoming richer and less unequal
08 Apr 2016 Leave a comment
in development economics, economic history, growth disasters, growth miracles Tags: extreme poverty, global poverty, Latin America
The Great Escape comes to Latin America
07 Mar 2016 Leave a comment
in development economics, economic history, growth disasters, growth miracles Tags: Latin America
The Great Fact in Latin America
19 Dec 2015 1 Comment
in applied welfare economics, development economics, economic history, growth disasters, growth miracles Tags: Latin America, The Great Enrichment, The Great Fact
In early 2000s more than 40% of Latin Americans lived on less than $4 a day. What about now? wrld.bg/OK6J6 http://t.co/iEZm030rj6—
World Bank Poverty (@WBG_Poverty) June 25, 2015
Sovereign defaults are mainly a Latin American thing
29 May 2015 1 Comment
in international economics Tags: Argentina, Greece, international economic law, Latin America, sovereign defaults
#Dailychart: Nine of the top ten sovereign debt defaulters are from Latin America econ.st/UDi8B1 http://t.co/s0jb2yh5PN—
The Economist (@ECONdailycharts) July 31, 2014
Gary Becker on crony capitalism in Latin America
13 May 2014 Leave a comment
in development economics, Gary Becker, politics, Public Choice Tags: crony capitalism, Latin America
One legitimate reason for the opposition to capitalism in Latin America is that it frequently has been "crony capitalism" as opposed to the competitive capitalism that produces desirable social outcomes.
Crony capitalism is a system where companies with close connections to the government gain economic power not by competing better, but by using the government to get favoured and protected positions.
These favours include monopolies over telecommunications, exclusive licenses to import different goods, and other sizeable economic advantages. Some cronyism is found in all countries, but Mexico and other Latin countries have often taken the influence of political connections to extremes.
…The excesses of cronyism have provided ammunition to parties of the left that are openly hostile to capitalism and neo-liberal policies. Yet when these parties come to power they usually do not reduce the importance of political influence but shift power to groups that support them.
…Leftist ideologies take advantage of the discontent this causes among intellectuals and the poor, and promise a redistribution of assets and better education opportunities for the poor.
Promises of redistribution have figured prominently in the speeches of Chavez, Lula, Morales, Peronists in Argentina, and Andres Manuel Lopez Obrador, former mayor of Mexico City and a leading candidate to be Mexico’s next president.
When it is discovered that left wing governments usually do not end up helping the poor very much, they tend to be voted out of office.
… The overall trend during the past several decades in practically all countries of this region has been toward more open economies with greater competition within industries, with much more reliance on private enterprise, and with a reduced role for government mandates, government-run enterprises, and cronyism.
Since these policies have provided greater benefits to all classes than the socialist policies of a Fidel Castro or a Hugo Chavez, the vast majority of people that live under such leaders will be, or in Cuba have been, disappointed by the unfulfilled promises. They are likely to come back to parties that support more market policies as long as free elections are preserved.
Gary Becker 2006
Utopia, you are standing in it! 
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