Latin America, home to about 600 million people, is blessed with natural resources, fertile land, and vibrant cultures, yet the region remains much poorer than its neighbors to the north. Why has no country in Latin America reached living standards like those enjoyed by other countries? In a new book, The Economics of Contemporary Latin America, Beatriz Armendáriz and Felipe Larraín analyze the historical roots of Latin America’s economic and social development dating back to the colonial times. What follows…