Are Business Owners True Believers in Capitalism? Evidence From Latin America

Abstract

Do business owners hold capitalist beliefs – relative to non-business owners? Using Latinobarómetro survey in Latin America, we find that business owners tend to see the market economy as the only system by which a country can become developed. They also tend to give a lower rank to Fidel Castro, and tend to believe that sole private investment in sectors like hospitals and pensions are good for the country to develop as soon as possible. But, business owners do not see foreign capital as good in industries such as mining, electronics, household appliances, automobile, telecommunication services, and infrastructure. They also do not see foreign investment as beneficial for economic development of the country. In addition, they are less willing to adopt some new technologies.

Citation

Marroquín, A. (2020), "Are Business Owners True Believers in Capitalism? Evidence From Latin America", Wood, D.C. (Ed.) Anthropological Enquiries into Policy, Debt, Business, and Capitalism (Research in Economic Anthropology, Vol. 40), Emerald Publishing Limited, Leeds, pp. 149-168. https://doi.org/10.1108/S0190-128120200000040010