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To: elmatador who wrote (10340)	9/27/2001 9:13:14 AM
From: Ilaine	Read Replies (3) \| Respond to of 74559

Interesting arguments. I disagree with your conclusions, no surprise. I have often wondered why the US and Canada are so advanced, and Mexico and countries south of Mexico are so backward. Hernando de Soto (what a name!), the Peruvian economist, has a very good explanation -- maybe you can get a copy of one of his books to read on the plane going back to Brazil, along with the history of Israel I suggested. DeSoto argues that it has to do with the legal structure of property and property rights. basicbooks.com He says that many people in the Third World own quite a bit of capital, but don't deploy it into capitalistic ventures because of fear of confiscation. I think enforceable property rights are just one part of the puzzle, although a big one. I think that entrepreneurship is more acceptable in developed countries. People here and in other developed countries dream of starting businesses, and just do it. The environment facilitates it because we admire entreprenuers and we like successful businesses. "Fat cat" isn't an insult to Americans. The fact that you use it as an insult shows that you are not really thinking in capitalist mode, which is a pity. Maybe when you get back to Brazil, you will start a company like you were talking about. You were a lot more amusing when you were talking about abracadabras and not griping about Cuba, foreign aid to Israel, and so forth.