The nations of Argentina, Brazil and Uruguay have united to draft laws to limit acquisition by foreigners of extensive tracts of their fertile agricultural land. Despite slight differences between them, the proposed measures are generally fairly mild. None of these three member countries of the Southern Common Market (Mercosur) – the other member is Paraguay – proposes to ban land sales to private or public foreign capital, nor to regulate land use, nor to repossess land that has already been sold. But…