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The Capitalist Revolution in Latin America 1st Edition

3 customer reviews
ISBN-13: 978-0195111767
ISBN-10: 0195111761
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Editorial Reviews Review

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.


"Eye-opening appraisals of the extraordinary potential of Latin American countries. Essential reading for those who have, or wish to have, commercial relations with our neighboring continent, Roberts and Araujo brilliantly combine a free market philosophical perspective with a proper appreciation of the region's history."--Steve Forbes

"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

"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 Buchanan, Nobel Laureate in Economics, 1986

"The lesson of this book is evident: Only open economies and open societies provide the adequate framework for prosperity."--Pedro Aspe, Finance Minister of Mexico, 1988-1994

"While the world's attention has been focused on the demise of socialism and planning in Central and Eastern Europe, the quite remarkable liberalization of markets--both international and domestic--that has occurred in Latin America has gone larely unnoticed. Roberts and Araujo now bring us the story of the tortuous path that has brought capitalism and markets to Latin America."--Gale Johnson, Professor of Economics, University of Chicago

The Capitalist Revolution in Lain America is a carefully crafted account of how the peddlers of quack ideas created an ecnomic disaster zone and how the descendants of Turgot have begun to alter the Latin landscape. Roberts and Araujo eschew Newspeak. The result is a refreshing, 'politically incorrect' volume that would meet with George Orwell's approval."--Steve H. Hanke, Advisor to Argentina's ex-Minister of Economy, Comingo Cavallo, and Professor of Applied Economics, The Johns Hopkins University


Product Details

  • Hardcover: 224 pages
  • Publisher: Oxford University Press; 1 edition (April 17, 1997)
  • Language: English
  • ISBN-10: 0195111761
  • ISBN-13: 978-0195111767
  • Product Dimensions: 6.4 x 0.9 x 9.6 inches
  • Shipping Weight: 1.1 pounds (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Best Sellers Rank: #2,085,328 in Books (See Top 100 in Books)

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5 of 6 people found the following review helpful By A Customer on June 15, 2004
Format: Hardcover Verified Purchase
This book discusses the contempory and historical economies of Mexico, Chile, and Argentina. It is an easy read, with little technical jargon. In addition, it lucidly discusses the elementary probelms of development economics, notably rent-seeking, and details the benefits and benevolence of free market economies. The book focuses on the insitutions and environments that have encouraged unproductive and impoverishing political policies. Furthermore, they discuss the effects of these institutions and policies. The authors are not shy in their dislike for socialism, but they support their case very well with theoretical discussion and empirical evidence.
This is an excellent introdution to Latin American Economies, Development Economics, or Foreign Affairs. Highly Recommended!
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By Bruce Glensky on October 7, 2014
Format: Hardcover Verified Purchase
Good Performance. Thank you.
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8 of 23 people found the following review helpful By A Customer on April 15, 2003
Format: Hardcover
This is an important book for future generations. The revolutionary work done by Pinochet and his advisors, copied not only in Latin America but the world at large.
It is also important that this book calls Pinochet by his real name, a Capitalist. These days anybody that doesn't agree with marxists-liberals is a fascist.
I'm still waiting to see how fascists implement free-market reforms like Pinochet did.
In summary: Pinochet is a Capitalist, fundamentalist if you will, who allied with the U-S during the Cold War, which was the fight between Capitalism and Communism. For a Latin American fascist look at Peron.
Wether you are in favor or against Pinochet it is important to get your facts straight.
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