The Capitalist Revolution in Latin America - Hardcover

Roberts, Paul Craig

Hardcover

ISBN 10: 0195111761 ISBN 13: 9780195111767

Publisher: Oxford University Press, 1997

Synopsis

The Capitalist Revolution in Latin America This work looks at what is happening in Latin America and what it will mean to countries outside the region, especially the USA. It takes an optimistic view of the future of Latin America and criticizes institutions like the World Bank and the IMF for subsidizing the old regime.

About this title

Review

Lessons from socialist failures have been learned more quickly in Latin America than in Europe or the United States. This book lays out the record of Latin American accomplishments to date, along with a precautionary assessment of near-term prospects. (James M. Buchanan, Nobel Laureate in Economics, 1986)

A compelling blend of substance and ideas - illuminates the "why" of revolution in economies in Latin America - and elsewhere - and the need for revolution in the multilateral financial institutions - Readable and rewarding. (George P. Shultz, Stanford University)

a wealth of economic detail and a fascinating summary of the statist history out of which Latin America's rent-seeking culture grew (Edward Schumacher, Wall Street Journal (Europe))

From the Back Cover

In a wide-ranging survey that illuminates both the history and present business climate of the region, Paul Craig Roberts and Karen Araujo describe the economic transformation currently taking place in Latin America. And as they do so, they also reexamine many of the prevailing orthodoxies concerning international development and the regulation of markets, and point to the success of privatization and free enterprise in Mexico, Argentina, and Chile as harbingers of the economic future for both hemispheres. The book describes the efforts of the Salinas, Pinochet, and Menem governments to combat the established interests of the local elites and the international development agencies, to privatize state industries, and to establish independent markets. In this new climate, private capitalists and entrepreneurs are feted and celebrated, and productivity has risen to levels unimagined only a few years before. But this dramatic economic turnaround, the authors show, is a mixed blessing for the United States. For if it provides us with a vast new market for our goods, it has also created a powerful new competitor for capital investment. To keep American and foreign capitalists investing in America, the government needs to make changes, which the authors outline in a provocative conclusion.

Edition details

• Publisher: Oxford University Press
• Publication date: 1997
• ISBN 10: 0195111761
• ISBN 13: 9780195111767
• Binding: Hardcover
• Language: English
• Number of pages: 228