Latin America is a far different place than it was back in 1992. In historical terms, the region has never been better m almost every way, nor does it offer so many opportunities for the achievement of prosperity.
Information to support this claim abounds. A Latin American newborn child in 1992 had a life expectancy of up to 69 years, now the projected lifespan would be 74. That same newborn infant would have had an 86 percent chance of finishing primary school; now he or she would be almost certain to reach that level. If the child were Brazilian, he or she would only have had a 14 percent chance of owning a computer and 10 percent of having a mobile phone.
Now, computer ownership has reached more than 50 percent, while mobile-phone penetration is practically 100 percent. In 1992, that same child would have had a 21 percent possibility of ending up living on the streets, and a 45 percent likelihood of living in poverty. Today, those figures have dropped to 12 and 30 percent, respectively.
Population in the region has grown by 30 percent...