1. Limitations to Economic Development in Latin America

2. Recap from the CIA Factbook Data Chart
Why do you think the countries of Latin America are not as well off as the U.S.?

3. Recap from the CIA Factbook Data Chart
Why do you think the countries of Latin America are not as well off as the U.S.? Answer: A key factor is that most of Latin America never industrialized or did so late in the game.

4. Recap from the CIA Factbook Data Chart
Interesting data: Mexico is one of the best off countries in GDP per capita and yet it has 52% living below the poverty line. What’s going on?

5. Recap from the CIA Factbook Data Chart
Interesting data: Mexico is one of the best off Latin American countries in GDP per capita and yet it has 52% living below the poverty line. What’s going on? Answer: Mexico has a big gap between rich and poor.

6. Ethnicity
Argentina, Uruguay, and Chile are mostly white (88% or greater)
Guatemala has the highest percentage of people that identify as pure blooded indigenous (Amerindian) at 40%.
Bolivia is typical of many Latin American countries: 68% mestizo, 20% indigenous, 5% white.

7. Miraflores

8. Villa Maria del Triunfo

9. Factors that stunted economic growth in Latin America:
Disclaimer: There are many complex factors behind something like this, but this is my take: 1. Legacy of the hacienda system
*It really started with the encomienda system in which conquistadors (conquering Spaniards were granted land with indigenous slaves to work them. Over time they became known as haciendas.

15. Factors that stunted economic growth in Latin America:
Legacy of the hacienda system
Corruption

16. Manuel Noriega

17. Noriega in Black Ops II

18. Factors that stunted economic growth in Latin America:
Legacy of the hacienda system
Corruption
Weak middle class

19. Factors that stunted economic growth in Latin America:
Legacy of the hacienda system
Corruption
Weak middle class
Foreign exploitation of resources

20. United Fruit

21. Factors that stunted economic growth in Latin America:
Legacy of the hacienda system
Corruption
Weak middle class
Foreign exploitation of resources
Illiberal economies (too regulated)

22. So how does Latin America stack up against other regions of the world
So how does Latin America stack up against other regions of the world? Haiti - $1800 Democratic Republic of the Congo - $800 Afghanistan - $1,000 *In Asia alone, there are 17 countries poorer than Nicaragua (Latin America’s 2nd poorest country).

23. Cayman Islands GDP per capita = $43,800