Join the Central and South American Privatization Debate

The Cato Institute today asks whether the increasingly private industry-loving El Salvador is the new Central American Tiger. Is it possible that capitalism works great in some places but not others?

According to a new paper by Juan Carlos Hidalgo, project coordinator for Latin America at the Cato Institute's Center for Global Liberty and Prosperity, El Salvador is becoming an economic success story in Central America.


"Since the end of the civil conflict in 1992, which left the country in ruins, El Salvador has transformed its economy by implementing a far-reaching liberalization process undertaken by democratic governments, which has included the privatization of state enterprises, deregulation, trade and financial liberalization, privatization of the pension system, and the adoption of the U.S. dollar as its official currency. According to the Fraser Institute's Economic Freedom of the World Report, El Salvador ranks among the top 25 freest economies in the world," writes Hidalgo.

While the percentage of households below the poverty line fell from 60 percent to 34.6 percent between 1991 and 2007—and the average per capita growth rate since 1992 has been approximately 5.2 percent per year—high crime rates and lack of security still represents "the greatest threat to sustained growth and liberal policies," according to Cato.

As the American free enterprise system fractures at its core, El Salvador, argues Cato, illustrates how "economic freedom can pave the way for development and how globalization offers great opportunities for developing countries that are willing to implement a coherent set of mutually supportive market reforms." What do you think? Should we look to El Salvador as the new model for prosperity in Central American? Send or upload your ideas today.

3D printing might save your life one day. It's transforming medicine and health care.

What can 3D printing do for medicine? The "sky is the limit," says Northwell Health researcher Dr. Todd Goldstein.

Northwell Health
Sponsored by Northwell Health
  • Medical professionals are currently using 3D printers to create prosthetics and patient-specific organ models that doctors can use to prepare for surgery.
  • Eventually, scientists hope to print patient-specific organs that can be transplanted safely into the human body.
  • Northwell Health, New York State's largest health care provider, is pioneering 3D printing in medicine in three key ways.
Keep reading Show less

The information arms race can’t be won, but we have to keep fighting

The tactics that work now won't work for long.

Politics & Current Affairs

Arms races happen when two sides of a conflict escalate in a series of ever-changing moves intended to outwit the opponent.

Keep reading Show less

10 excerpts from Marcus Aurelius' 'Meditations' to unlock your inner Stoic

Great ideas in philosophy often come in dense packages. Then there is where the work of Marcus Aurelius.

(Getty Images)
Personal Growth
  • Meditations is a collection of the philosophical ideas of the Roman Emperor Marcus Aurelius.
  • Written as a series of notes to himself, the book is much more readable than the dry philosophy most people are used to.
  • The advice he gave to himself 2,000 years ago is increasingly applicable in our hectic, stressed-out lives.
Keep reading Show less

What if all humanity had to do to save itself was listen?

By working together, and learning from one another, we can build better systems.

Videos
  • Many of the things that we experience, are our imagination manifesting into this physical realm, avers artist Dustin Yellin.
  • People need to completely rethink the way they work together, and learn from one another, that they they can build better systems. If not, things may get "really dark" soon.
  • The first step to enabling cooperation is figuring out where the common ground is. Through this method, despite contrary beliefs, we may be able to find some degree of peace.