Defending the market in Latin America: Appreciating Costa Rica's success

Lackluster economic growth in Latin America has undermined faith in the economic reforms undertaken throughout the region in the 1980s. These reforms opened Latin American countries to the play of market forces. Among many, though, initial faith in the market has given way to cynicism. Much criticism of economic liberalism in Latin America, however, is sweeping and superficial. An appreciation is needed for the diversity of experiences with economic liberalism in Latin America. Especially illuminating are successes. One corner of Latin America that offers many lessons—and a success that deserves to be more widely understood and discussed—is Costa Rica.