Digital Commons Network^™

Open Markets, Competitive Democracy, And Transparent And Reliable Legal Systems: The Three Legs Of Development, James R. Jones

Chicago-Kent Law Review

In the 1990s, reform swept through Latin America. Open markets replaced closed economies. Real democracy replaced one-party rule and rigged elections. For about half of the region's population, economic and political conditions improved—yet the gap between the rich and poor widened. The poor half received little or no tangible benefits from these economic and democratic reforms. This article argues that the most difficult and probably most important reform remains to be accomplished: the reform of the legal and regulatory systems throughout Latin America. Until that happens, dreams of first-world recognition and respectability will elude Latin nations.