Abstract
The principal impediment to Latin America’s competitiveness is the lack of credible commercial law, especially concerning property. Good property law is the foundation of free, impersonal, contract-based economies in the West. Without property law, entrepreneurship, commerce, and growth are stifled. Were the Latin American states able to create a modern legal environment, their transformation would open enormous new commercial markets with significant purchasing power that would demand First World goods and services.
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© 2008 Jerry Haar and John Price
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Schaefer, P.F., Schaefer, P.C. (2008). Property, the Rule of Law, and Development in the Americas. In: Haar, J., Price, J. (eds) Can Latin America Compete?. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230610477_11
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DOI: https://doi.org/10.1057/9780230610477_11
Publisher Name: Palgrave Macmillan, New York
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