In Bootleggers & Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, economists Bruce Yandle and Adam Smith explain how money and morality are often combined in politics to produce arbitrary regulations benefiting cronies, while constraining productive economic activities by the general public.
Featuring the author Alvaro Vargas Llosa, with comments by Michael Shifter,
Inter-American Dialogue, and moderated by
Ian Vásquez, Cato Institute.
Latin America was supposed to have ushered in a new era of prosperity with market reforms in the 1990s. Instead, the region saw low growth, financial crises, political instability, and the spectacular
economic collapse of Argentina. What went wrong? Peruvian journalist Alvaro Vargas Llosa will explain that the region’s disappointing performance
is part of a long historical pattern in which reforms of the left and right have typically failed. State oppression has been a constant since at least the Spanish conquest, and it continues to preempt good policies and undermine the efforts of Latin Americans to lift themselves out of poverty. Vargas Llosa will suggest a way out for Latin America, and Michael Shifter will comment on the book’s relevance to the region’s current condition.