The Capitalist Revolution in Latin America

Latin America has started to abandon its centuries-long legacy of government-controlled economies and state-sanctioned corruption, write Paul Craig Roberts and Karen LaFollette Araujo, who are vigorous advocates of privatization. This massive shift in attitudes has taken place in just the last 10 years or so. It carries profound consequences not only for the region, but also for the United States and Europe, which now face increased competition for capital investment. The authors are often provocative--they suggest shutting down the World Bank and credit Chile's former military dictator Augusto Pinochet with great economic achievements--but always back up their ideas with sound reasoning.