Liberalism and the good society in the Iberian world

This article investigates the causes behind the limited success of neoliberal economic policies in the Iberian world. In addition to Latin America, the author includes Portugal, Spain, and the Philippines in the analysis. The author argues that, in the absence of strong liberal states able to enforce the rule of law, economic liberalization has failed, expanding inequalities rather than bequeathing prosperity. The article gives special attention to variations in the outcomes of liberalization that expose the limitations of cultural explanations.