Apparently having a lot of resources isn’t enough if law and regulations block the efficient use of them.
Something tells me that Monarchy and Feudalism would have been better for Latin America than representative democracy. If property rights aren’t enforced by the central/subdivision governments, what use is a system? Catholic fiefs would have provided better protection of property than the current governments.
Good land reform and ‘rule of law’ is essential to a stable and functioning country.
We assisted with it in Taiwan and Japan after WW2, and it was essential to their economic growth. Where it has failed, the countries have stagnated.
Do not forget the Republic of the Philippines.
Democracy is the terrible system. What would you expect though with an appeal to the lowest common denominator?
a great example of corrupt/failed land reform.
As I see it, the country is primarily Christian, it is industrialized, and a decent tourist destination, outside of the recent issues with ISIS. It could definitely be worse.
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