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

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) […]

Garbage In, Garbage Out? Some Micro Sources of Macro Errors

CASS R. SUNSTEIN, REID HASTIE JOURNAL OF INSTITUTIONAL ECONOMICS 11.3 (2015): 561-583 Abstract: Many institutions, large or small, make their decisions through some process of deliberation. Nonetheless, deliberating institutions often fail, in the sense that they make judgments that are false or that fail to take advantage of the information that their members have. Micro mistakes […]

Tocqueville on Religion, the Enlightenment, and the Democratic Soul

AARON L. HEROLD AMERICAN POLITICAL SCIENCE REVIEW 109.3 (2015): 523-534 Abstract: This article proposes a new interpretation of Tocqueville’s thought, one that focuses on his account of religious psychology. From his observations of America, Tocqueville concludes that human beings have a natural hope for immortality—a hope that is driven by a paradoxical but ineradicable desire to […]

Trade Exposure and the Polarization of Government Spending in the American States

BRIAN S. KRUEGER, PING XU AMERICAN POLITICS RESEARCH 43.5 (2015): 793-820 Abstract: Studies of economic globalization and government spending often view the United States as an outlier case. Surprisingly, ours is the first empirical study to take advantage of the variation in U.S. states’ exposure to global markets, ideological orientations of the governments, and the relative […]

A Re-examination of the Impact of the UK National Minimum Wage on Employment

RICHARD DICKENS, REBECCA RILEY, DAVID WILKINSON ECONOMICA (2015). ADVANCED ONLINE PUBLICATION. DOI: 10.1111/ecca.12158 Abstract: Early work on the national minimum wage (NMW) suggested that policymakers in the UK had succeeded in raising the pay of low-paid workers without impairing their employment prospects. This paper shows that when we focus on the most vulnerable workers, part-time females, the […]

Why Democracies Outgrow Autocracies in the Long Run: Civil Liberties, Information Flows and Technological Change

CARL HENRIK KNUTSEN KYKLOS 68.3 (2015): 357-384 Abstract: This paper argues that democracy enhances technological change, the most important determinant of long-term economic growth. It first presents an argument on how and why dictators restrict civil liberties and diffusion of information to survive in office, even if this reduces their personal consumption. The argument predicts that […]

How Disgust Influences Health Purity Attitudes

SCOTT CLIFFORD, DANE G. WENDELL POLITICAL BEHAVIOR (2015). ADVANCED ONLINE PUBLICATION. DOI 10.1007/s11109-015-9310-z Abstract: Food and health regulations are increasingly being pushed onto the political agenda, with rising concerns about genetically modified foods, obesity rates, and vaccination. Public beliefs and attitudes on these issues often conflict with the scientific evidence, yet we know relatively little about what […]

From Mixed Economy to Entangled Political Economy: a Paretian Social-Theoretic Orientation

MEG PATRICK, RICHARD E. WAGNER PUBLIC CHOICE 164.1-2 (2015): 103-116 Abstract: This paper compares and contrasts two visions of political economy. These visions aren’t antagonistic, just different. The mixed economy vision associated with Ludwig von Mises and Sanford Ikeda treats politics as intervening into markets. The entangled political economy vision treats politics and markets as overlapping […]

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