Explore the vast range of titles available.

Equity and growth are central concerns for development in Mexico. Specific inequalities in income, power, wealth, and status create and sustain economic institutions and policies that perpetuate these inequalities and promote poor economic performace. 'No Growth without Equity? Inequality, Interests, and Competition in Mexico' presents a novel analysis showing why more equality is necessary to increase economic growth. The authors analyze the causes of persistent inequality and weak growth in Mexico, despite major changes associated with NAFTA and democratization, and draw implications for policy design. The book involves an innovative synthesis of work on overall links between equity and growth, and carefully grounded analysis in specific areas. The issues are of intense interest to policy debate in Mexico and to the development community in Latin America and elsewhere.

The free banking system in Minnesota differed from that in Indiana, Wisconsin, and New York (where free bank notes were backed by safe investments and traded at near par) because Minnesota's free banks invested in railroad bonds, which were risky. In Minnesota, such banks as Chisago County Bank and the Bank of Rochester actually operated as mutual funds in connection with railroad bond brokers such as Pease and Chalfant. The bonds had been authorized in a well-publicized election in 1858 and funded loans to railroad companies. Newspaper coverage shows that the public was aware of the bonds' failure to sell except at deep discounts and viewed the notes as speculative investments. It is quite possible that the free bank notes were not bought or traded at par and that the public was aware of the risks involved. The railroad companies collapsed in 1859 and the bonds were eventually redeemed at 20 cents on the dollar.