Introduction [or giving Latin America's majority a fair chance] -- A dozen equity tools -- Rule-based fiscal discipline -- Smoothing booms and busts -- Social safety nets that trigger automatically -- More taxes on the rich and better spending on the rest -- Giving small businesses a chance --...

Latin America’s economic performance is mediocre at best, despite abundant natural resources and flourishing neighbors to the north. The perplexing question of how some of the wealthiest nations in the world in the nineteenth century are now the most crisis-prone has long puzzled economists...