Liberty Review América Latina

The Stock Exchange, the State and Economic Development in Mexico, 1932-1976


Abstract: In this article I examine the history of the Mexican Stock Exchange from the end of the Revolution until 1975, under the hypothesis that it did not carry out its pertinent functions in corporate financing but was rather an economic and political instrument of the government. Due to state intervention and the deficient definition of property rights, its functioning was completely anomalous except during this period. The article represents a first step in the study of the role of the stock exchange in Latin American corporatist economic models.

Filed under: Ciencia Política, Economía

Por Qué es Antidemocrática la Secesión

REVISTA DE FILOSOFÍA 40.1 (2015): 157-180

Abstract: Trataré de demostrar que la secesión es intrínsecamente antidemocrática. retomaremos los argumentos secesionistas: de aquellos que parten de una idea (errada) de autogobierno y de quienes lo hacen desde el liberalismo. Luego opondremos objeciones a ambos: defendiendo el valor de la igualdad; desmontando reivindicaciones instrumentales de homogeneidad interna; retomando las objeciones ya clásicas de Buchanan; y, finalmente, recomponiendo, con Habermas y Pogge, un concepto de autogobierno del cual derivaremos que no es legítimo trazar más fronteras y que la democracia demandaría eliminarlas, si fuera posible.

Filed under: Filosofía

La Tolerancia Liberal en la Obra de John Rawls y de Friedrich A. Hayek

ISEGORÍA 51 (2014): 649-670

Abstract: En la discusión actual sobre la tolerancia, la teoría política liberal predominante sigue muy ligada a los argumentos que ya se esgrimieron en el pasado en la discusión sobre la tolerancia religiosa. Como el desarrollo de la misma fue una de las raíces del liberalismo, muchos autores liberales asumen que la separación Iglesia/Estado proporciona el paradigma para abordar hoy otro tipo de diferencias. Read the rest of this entry »

Filed under: Filosofía, Teoría Política

Tracing the Reversal of Fortune in the Americas: Bolivian GDP Per Capita since the Mid-nineteenth Century


Abstract: In the centuries before the Spanish conquest, the Bolivian space was among the most highly urbanized and complex societies in the Americas. In contrast, in the early twenty-first century, Bolivia is one of the poorest economies on the continent. According to Acemoglu et al. (Q J Econ 117(4):1231–1294, 2002), this disparity between precolonial opulence and current poverty would make Bolivia a perfect example of “reversal of fortune” (RF). This hypothesis, however, has been criticized for oversimplifying long-term development processes by “compressing” history (Austin in J Int Dev 20:996–1027, 2008). Read the rest of this entry »

Filed under: Economía, Historia

Pre-Independence Spanish Americans: Poor, Short and Unequal…Or the Opposite?


Abstract: This paper attempts to establish a debate between alternative views of living standards in Spanish America during the viceregal period. Since 2009, a growing literature has shared a «common language» based on a similar, though not identical, methodology. As never before, this «new generation» of studies is built upon long series of quantitative data and international comparisons of nominal wages and prices which, in some cases, cover the whole Early Modern Era. Read the rest of this entry »

Filed under: Historia

Latin American Inequality: Colonial Origins, Commodity Booms, or a Missed 20th Century Leveling?

NBER WORKING PAPER NO. 20915 (January 2015)

Abstract: Most analysts of the modern Latin American economy have held the pessimistic belief in historical persistence — they believe that Latin America has always had very high levels of inequality, and that it’s the Iberian colonists’ fault. Thus, modern analysts see today a more unequal Latin America compared with Asia and most rich post-industrial nations and assume that this must always have been true. Read the rest of this entry »

Filed under: Economía

América Latina Archive

Recent Posts: Liberty Review

The Political Economy of Liberal Democracy

SHARUN MUKAND, DANI RODRIK NBER WORKING PAPER No. 21540 (September 2015) Abstract: We distinguish between three sets of rights – property rights, political rights, and civil rights – and provide a taxonomy of political regimes. The distinctive nature of liberal democracy is that it protects civil rights (equality before the law for minorities) in addition to […]

Early English Mercantilists and the Support of Liberal Institutions

BRUCE ELMSLIE HISTORY OF POLITICAL ECONOMY 47.3 (2015): 419-449 Abstract: Ever since Adam Smith and David Hume launched an assault on specific mercantilist policies, most economists have been of a similar opinion regarding the mercantilists: they were a loose group of writers who failed to grasp the proper workings of the economy, and/or they were […]

Recent Engagements with Adam Smith and the Scottish Enlightenment

MARIA PIA PAGANELLI HISTORY OF POLITICAL ECONOMY 47.3 (2015): 363-394 Abstract: Recent literature on Adam Smith and other eighteenth-century Scottish thinkers shows an engaged conversation between the Scots and today’s scholars in the sciences that deal with humans—the social sciences and the humanities, as well as neuroscience and evolutionary psychology. We share with the eighteenth-century Scots […]

Schumpeter’s Picture of Economic and Political Institutions in the Light of a Cognitive Approach to Human Behavior

MASSIMO EGIDI JOURNAL OF EVOLUTIONARY ECONOMICS (2015). ADVANCED ONLINE PUBLICATION. DOI10.1007/s00191-015-0421-9 Abstract: Schumpeter’s theory of democracy can be read through the lens of the cognitive approach to rationality. Schumpeter himself constructed his theory on the basis of his (neglected) conception of conscious rationality, which considers the process of thinking as composed of conscious/deliberate and unconscious/automatic components. The […]

Hobbes on Justice, Property Rights and Self-Ownership

J. OLSTHOORN HISTORY OF POLITICAL THOUGHT 36.3 (2015): 471-498 Abstract: This article explores the conceptual relations Hobbes perceived between justice, law and property rights. The author argues that Hobbes developed three distinct arguments for the State-dependency of property over time: the Security Argument, Precision Argument and Creation Argument. On the last and most radical argument, the sovereign […]

The Fellow-Feeling Paradox: Hume, Smith and the Moral Order

ELIAS L. KHALIL PHILOSOPHY 90.4 (2015): 653-678 Abstract: Hume and Smith advance different answers to the question of whether sympathy can ever be the foundation of the moral order. They hold contradictory views of sympathy, called here ‘the Fellow-Feeling Paradox’. For Hume, fellow-feeling tends to reverberate in society, leading to the socialization of the individual and […]

Mill’s Circle(s) of Liberty

SVEN OVE HANSSON SOCIAL THEORY AND PRACTICE 41.4 (2015): 734-749 Abstract: J.S. Mill’s advocacy of liberty was based only in part on his harm principle. He also endorsed two other principles that considerably extend the scope of liberty: first, a principle of individual liberty that is based on the value of positive freedom and of […]

Conduct, Rules and the Origins of Institutions

VERNON SMITH JOURNAL OF INSTITUTIONAL ECONOMICS 11.3 (2015): 491-483 Abstract: This paper supports the effort by Hindriks and Guala (2014) to integrate the prevailing accounts of institutions. Vernon Smith illustrates with traffic narratives how we can think of their concept of rules-in-equilibrium as evolving from universal elementary forms. These conceptions resonate fully with Adam Smith (1759) […]

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