Market, socialist, and mixed economies: comparative policy and performance, Chile, Cuba, and Costa Rica

Abstract

How can we determine which economic model best provides for economic development and social welfare? In this major comparative work, noted economist Carmelo Mesa-Lago analyzes three Latin American countries with divergent economic systems: Chile (a market economy), Cuba (socialist), and Costa Rica (mixed). He examines their economic and social policies, shows how these policies affect performance based on a set of socioeconomic variables, and ranks the countries among themselves (using new techniques) and in comparison with international indicators. The time frame of the study embraces thirty-eight years for Costa Rica (under the democratic social democracy) and Cuba (under the socialist revolution) and twenty-four years for Chile (under Pinochet and the return to democracy). Mesa-Lago focuses on the three diverse socioeconomic models that these countries represent during these periods.

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