"Lawrence E. Harrison argues that the principal explanation for regional disparities in economic growth can be found not in the exploitation of poor countries by imperialist powers, nor by a lack of resources, inhospitable geography, or a world economic system that is stacked against poorer nations. Rather, development must be viewed relative to traditional Hispanic culture.

Thus, Costa Rica, settled by pioneering farmers, has been more successful economically than Nicaragua, settled by conquistadors in search of gold and slaves, despite having fewer natural resources. Likewise, both Argentina and Australia are resource-rich, remote, and underpopulated countries. Political instability and a failure to maintain durable and progressive institutions have paralyzed Argentina's growth.

Alternatively, Australia thrives under a long tradition of democratic capitalism, despite its start as a prisoners' colony."--BOOK JACKET.