Introduction / Francis Fukuyama -- The historical context -- Two centuries of South American reflections on the development gap between the United States and Latin America / Tulio Halperin Donghi -- Looking at them: a Mexican perspective on the gap with the United States / Enrique Krauze -- Explaining Latin America's lagging development in the second half of the twentieth century: growth strategies, inequality, and economic crises / Jorge I. Domínguez -- The politics of underdevelopment in Latin America -- Does politics explain the economic gap between the United States and Latin America? / Adam Przeworski with Carolina Curvale -- The role of high stakes politics in Latin America's development gap / Riordan Roett and Francisco E. González -- Institutional factors in Latin America's development -- The Latin American equilibrium / James A. Robinson -- Do defective institutions explain the development gap between the United States and Latin America? / Francis Fukuyama -- Why institutions matter: fiscal citizenship in Argentina and the United States / Natalio R. Botana -- Conclusion / Francis Fukuyama.