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has been cited by the following article:

• TITLE: Institutional Inefficiencies in Latin America

  AUTHORS: Panagiotis Evangelopoulos

  KEYWORDS: Individual Liberty; Free Enterprise; Collectivism; Economic Development

  JOURNAL NAME: Theoretical Economics Letters, Vol.2 No.5, December 27, 2012

  ABSTRACT: In North America the establishment of the institutions of individual liberty and free enterprise demonstrate that prosperity is a function of freedom. Diametrically opposite, Latin America has throughout its history been required to endure attempts at imposing collectivist institutions. The new institutional economic historian approach implies that poor economic performance is attributable to the inefficient institutional framework. Based on this analysis I explain the reasons of the wealth differences between North and Latin America.