Comments by "Ray Lopez" (@raylopez99) on "Was Latin America Too Rich to Prosper? - VisualEconomik EN" video.

  1. Commodities can be produced almost by anybody, whereas manufacturing can be protected by tariffs. For this reason the popular free market saying that "How care cars produced? You ship wheat to a country and it ships cars back in exchange for the wheat" is a fiction. The Structuralists were misguided but they had the germ of a good idea. Unfortunately for them, economies of scale made the "first mover" in manufacturing, the USA, the UK, France, Germany, Japan and the like, nearly unassailable. BTW Korea successfully did transition from an agricultural economy (especially South Korea) to a first world manufacturing economy, see the book by Joe Studwell.
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