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Usually, Latin America is presented as a land where free enterprise and private property clearly failed the challenge of development, state interventionism (or socialism...) being depicted as the unique possible choice to solve and fight the continent's poverty.
The authors sucessfully demonstrate the complete wrongness of this perspective: Latin America's problem is not a lack of state interventionism, but an excess of it, the historical existence of a centralist tradition suspicious about real liberalism (in the european tradition of the word) and freedom of enterprise, giving her preference to the creation of heavy bureaucratic systems and gigantic conglomerates of ineffective public companies, usually managed without any kind of economic rationality, only obeying to unclear and not well defined political criterions, Cuba being the main paradigm of the bad consequences of this model (the chapter about Fidel's island is simply superb).
As I said initially, this is a fine book and the only reason I don't rate it with five stars is the following one: even the authors, in minor points, are not completely free of leftist idiocy, especially when they speak about extra Latin America realities...