"Did independence push Latin America down a growth-inequality trade-off? During the late colonial decades, the region completed two centuries of growth unmatched anywhere and inequality reached spectacular heights. During the half century after insurgency and independence, inequality fell...

Today's labor-scarce economies have open trade and closed immigration policies, while a century ago they had just the opposite, open immigration and closed trade policies. Why the inverse policy correlation, and why has it persisted for almost two centuries? This paper seeks answers to this dual...