Plunder in Latin America by Guillermo Yeatts examines the difficult path Latin America has followed through hundreds of years of economic and political thievery. But, this is not just a history lesson about one continent’s disadvantage and economic troubles; it is an exposé of the root causes that have contributed to a tradition of political centralism, lack of free trade and lack of protection of property rights under the rule of law.
The plundering tradition of Latin America goes back to colonial times, when property was pillaged from the natives by the Conquistadores.
This gave rise to a rent-seeking society where it was more important to be close to government rather than the markets. Post independence institutions adopted majority rule overriding the individual rights and creating totalitarian and authoritarian systems under the name of democracy.
It is not just about what’s wrong in Latin America it is also about what can be right. And herein lies the value of author Yeatts’s groundbreaking book.
Written with frank and unflinching honesty, Plunder in Latin America is informative, illuminating, and inspiring for anyone concerned with Latin American political and economic development.