Liberty Review América Latina

Classical Liberalism in Guatemala

ANDRÉS MARROQUÍN AND FRITZ THOMAS
ECON JOURNAL WATCH 12.3 (2015): 460-478

Abstract: We give an account of classical liberalism in Guatemala, its successes, failures, and main figures. Classical liberalism is a young tradition in the country and relatively small. The three most important organizations are Universidad Francisco Marroquín, the Center for Economic and Social Studies (CEES), and the Center for National Economic Research (CIEN). The most important individual for liberalism in Guatemala has been Manuel Ayau, who passed away in 2010.

Filed under: Ciencia Política, Economía, Historia, Sociedad

Venezuela: Without Liberals, There Is No Liberalism

HUGO J. FARIA AND LEONOR FILARDO
ECON JOURNAL WATCH 12.3 (2015): 375-399

Abstract: The Venezuelan economy evolved from a growth miracle (1920–1957) to a growth disaster (1960 to the present). This paper describes the institutional collapse behind this reversal of fortunes. To cast light on Venezuela’s U-turn we provide a brief historical account, and we discuss the role played by educational organizations, the media and culture, and political and entrepreneurial elites in the destruction of liberal institutions. We also describe the most prominent liberal reactions to the pervasive institutional decay endured by the country. Finally, a major lesson emerges from this case study: illiberal mindsets coupled with the absence of leadership bring dire consequences for the people’s standard of living.

Filed under: Ciencia Política, Economía, Historia, Sociedad

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

ALFONSO HERRANZ-LONCÁN, JOSÉ ALEJANDRO PERES-CAJÍAS
CLIOMETRICA (2015). ADVANCED ONLINE PUBLICATION. DOI
10.1007/s11698-015-0125-2

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?

RAFAEL DOBADO-GONZÁLEZ
REVISTA DE HISTORIA ECONÓMICA/JOURNAL OF IBERIAN AND LATIN AMERICAN ECONOMIC HISTORY (2015). ADVANCED ONLINE PUBLICATION. DOI: 10.1017/S0212610914000135

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

Cádiz y el Experimento Constitucional Atlántico

JOSÉ ANTONIO AGUILAR RIVERA
POLÍTIC Y GOBIERNO 21.1 (2014): 3-24

Este trabajo analiza la pertenencia y el lugar de la Constitución de Cádiz dentro del conjunto de la experiencia constitucional atlántica. Después de ubicar contextualmente el debate historiográfico entre quienes reducían el resultado de la deliberación gaditana a meras imitaciones de códigos importados del extranjero y aquellos que argumentaban su defensa en términos nacionalistas e históricos, es posible posicionar el experimento de Cádiz más cerca del ciclo constitucional hispanoamericano que del francés o estadounidense. Read the rest of this entry »

Filed under: Ciencia Política, Historia

Crises and Crashes: Argentina 1825-2002

ANA MARÍA CERRO, OSVALDO MELONI
REVISTA DE HISTORIA ECONOMICA / JOURNAL OF IBERIAN AND LATIN AMERICAN ECONOMIC HISTORY 31.2 (2013): 219-252

The objective of this paper is twofold. First, it identifies and categorizes the currency crises suffered by Argentina from 1825 to 2002. Second, it looks for regularities in the behavior of key macroeconomic variables in the neighborhood of crises by means of graphic analysis, non-parametric and econometric techniques Read the rest of this entry »

Filed under: Economía, Historia

América Latina Archive

Recent Posts: Liberty Review

Spinning the industrial revolution

JANE HUMPHRIES, BENJAMIN SCHNEIDER THE ECONOMIC HISTORY REVIEW Abstract: The prevailing explanation for why the industrial revolution occurred first in Britain during the last quarter of the eighteenth century is Allen’s ‘high wage economy’ view, which claims that the high cost of labour relative to capital and fuel incentivized innovation and the adoption of new techniques. […]

A culture of rent seeking

SEUNG GINNY CHOI, VIRGIL HENRY STORR PUBLIC CHOICE Abstract: Tullock [J Dev Econ 67(2):455–470, 1967] introduced the concept of rent seeking and highlighted the social costs associated with collecting and lobbying for or against tariffs, investing in human and physical capital to facilitate or protect against theft, and expending resources to establish a monopoly. A large portion […]

Two Rights of Free Speech

ANDREI MARMOR RATIO JURIS Abstract: My main argument in this paper is that the right to freedom of expression is not a single right, complex as it may be, but spans two separate rights that I label the right to speak and the right to hear. Roughly, the right to speak stands for the right of […]

Social contracts for real moral agents: a synthesis of public reason and public choice approaches to constitutional design

KEVIN VALLIER CONSTITUTIONAL POLITICAL ECONOMY Abstract: Citizens in contemporary democratic societies disagree deeply about the nature of the good life, and they disagree just as profoundly about justice. In building a social contract theory for diverse citizens, then, we cannot rely as heavily on the theory of justice as John Rawls did. I contend that Rawlsian […]

Resource rents and populism in resource-dependent economies

ELENA SEGHEZZA, GIOVANNI B. PITTALUGA EUROPEAN JOURNAL OF POLITICAL ECONOMY Abstract: A usual explanation for populism is the existence of bad institutions, with an autocratic regime dispelling opposition by distributing income to the ‘masses’ in the manner of the ‘bread and circuses’ of Imperial Rome. In Bolivia, Ecuador, and Venezuela, populist redistribution occurred in conjunction with […]

The Average Period of Production: The History and Rehabilitation of an Idea

PETER LEWIN & NICOLÁS CACHANOSKY JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT, Volume 40, Issue 1 Abstract: Austrian capital theory tried to capture the intuitive and basically undeniable importance that time plays in economic life, but arguably was diverted down a blind alley with Eugen von Böhm-Bawerk’s average period of production, a purely physical measure of […]

Grotius on Property and the Right of Necessity

DENNIS KLIMCHUK JOURNAL OF THE HISTORY OF PHILOSOPHY Abstract: It is widely held that in situations of peril, it is permissible to use another’s property without her permission if that is the only way to save oneself from serious harm, but that if one damages or consumes that property, one ought to compensate its owner. However, […]

Reapplying behavioral symmetry: public choice and choice architecture

MICHAEL DAVID THOMAS PUBLIC CHOICE Abstract: New justifications for government intervention based on behavioral psychology rely on a behavioral asymmetry between expert policymakers and market participants. Public choice theory applied the behavioral symmetry assumption to policy making in order to illustrate how special interests corrupt the suppositions of benevolence on the part of policy makers. Cognitive […]

About Liberty Review

Liberty Review summaries are selected by Liberty Fund Fellows on the basis both of their own research interests and of their relevance for Liberty Fund's mission: to contribute to the preservation and development of individual liberty through research and educational activities.

Print Issues

Liberty Matters

Our Books

Liberty Fund, Inc.

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals. The Foundation develops, supervises, and finances its own educational activities.