The informal economy in Latin America

Article Abstract:

The informal economy in urban Peru is a positive development, and one that is reflected in Latin America as a whole, where informal capitalism is succeeding despite lack of legal protection. Street vendors, construction workers and others produce goods and services that benefit society as a whole. The goods and services are not illegal, so the term 'informal' is more appropriate than 'underground'. Peru has been able to make economic progress more rapidly due to its informal sector, and there has been a move away from seeking solutions in the public sector.

Small Business, Peru, Underground economy

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Economic freedom and the evolution of law

Article Abstract:

A study was conducted to examine the sources of and barriers to economic freedom and the evolution of customary law in a cooperative environment. A further objective was to explain the rules and institutions that arise from the transfer of wealth. Results demonstrate that economic freedom and moral behavior arise from customary law and that both are undermined by authoritarian legal institutions which are supposed to support them. For the emerging economies to gain economic freedom, property and commercial law should be allowed to evolve.

Research, Distribution (Economics), Free enterprise

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Making constitutions work: conditions for maintaining the rule of law

Article Abstract:

A study was conducted to examine the factors affecting the low per capita income of most Latin American states. The objective was to analyze the impact of constitutionalism, the rule of law and their enforcement on a country's economic performance. Results indicate that the enforceability of constitutions and the rule of law depends greatly on the attitude of interest groups with a credible threat potential at their disposal and with various heterogeneous interests.

Interpretation and construction, Constitutions, Pressure groups, Special interest groups

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