Nearly two centuries after the countries of Latin America gained their independence from Spain and Portugal, not one of them is truly developed. Where have they gone wrong? Why have countries in other regions, once far behind, managed to achieve relatively quickly results that Latin American countries have aspired to for so long?
Many in the region respond to such questions with conspiracy theories or self-pitying excuses. They blame the Spanish empire, for making off with the region's riches in the past, or the American empire, which supposedly continues to bleed it dry today. They say that international financial institutions have schemed to hold the region back, that globalization was deliberately designed to keep it in the shadows. In short, they place the blame for underdevelopment anywhere but on Latin America itself.
The truth is that so much time has passed since independence that Latin Americans have lost the right
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