Includes bibliographical references (pages 289-309) and index.

"The main purpose of this book is to explain Mexico's substandard economic activity by applying the foundational factors approach primarily to Mexico and, for purposes of comparison, secondarily to the United States. The argument is that, unlike the United States, Mexico has been shaped by an inherently difficult context. Formidable environmental or geographic impediments in Mexico, that is, disadvantages linked to locational, climatic, and topographical circumstances have seriously thwarted domestic economic activity. Despite Mexico's robust natural endowment, shortages of key raw materials essential for agriculture and industry have held back production; and problematic population dynamics have had various negative impacts historically. Additionally, unfavorable external factors, such as disadvantageous international conditions and/or the existence of problematic interactions and unequal relationships with other countries, have impacted Mexico in an extraordinary manner. And finally, long-standing weaknesses in the structure of production and governance in Mexico have contributed to slow, inefficient, and uneven growth and have promoted the maldistribution of wealth. Institutions linked to such sectors as agriculture, mining, trade, commerce, and manufacturing have historically performed at subpar levels, while governance has been erratic and inefficient. Moreover, public policies have favored the rich and the powerful and have neglected the impoverished masses"--Provided by publisher.