1) A note on source validation: The author, David de Ferranti, got his Ph.

D in Economics from
Yale, was the World Banks Senior Vice-President for Latin America, and is the CEO of Results
for Development. I found this book through Google Scholar. This article is aimed at a well-read
audience that is aware of global events and understands basic economics. This article argues for
a solution to widespread inequality in Latin America by suggesting that Latin American
governments take measures that shift the tax burden off the shoulders of the emerging middle
class through the creation of a progressive tax, a reduction in consumption taxes, and a hike in
estate taxes. It also argues that creating equal opportunities for quality education increases the
likelihood of more equitable growth two to three decades from now (which is when students will
begin to enter the workforce). He goes to great lengths in order to point out the downsides of
current inequality. He points out that access to basic services such as telephone lines, electricity,
and education correlates with income levels. In ten Latin American countries, the difference in
the number of years of education between the richest quintile and the poorest quintile increased
over the course of 20 years.

Difference in average years of education between the top and bottom

income quintiles ranged between 5 and 9 years for 31-40 and 51-60 year-olds across
the region.

...the richest 10 percent of individuals receive between 40 and 47 percent

of total income in most Latin American societies, while the poorest 20 percent
receive only 2-4 percent. This rate inequality is higher than in OECD countries,
Eastern Europe, and most of Asia.

Unequal access to credit is a drag on the economy as a whole because it

limits an individual's ability to invest in the economy.
M., De Ferranti David. "Summary." Inequality in Latin America: Breaking with History?
Washington, DC: World Bank, 2004. 1-17. Google Scholar. Web. 31 Aug. 2016.