"The inequality produced by liberty: This, for the socialist, is the soft underbelly of pro-market rationale and the best place to attack," says Mary O'Grady, a columnist who covers Latin America for the Wall Street Journal. "I would argue that it's the intellectual stream that prevails in Latin America, and it's the reason the region can not hope to reach its potential any time soon."
O'Grady made a presentation at Reason Weekend 2012, Reason Foundation's annual donor event. He talked about why Latin American countries are so susceptible to socialism and identified the "three P's" of "Populism, Protectionism, and Prohibition" as the primary sources of the region's biggest problems.
About 32 minutes. Filmed by Joshua Swain and Anthony Fisher. Edited by Zach Weissmueller.