ABSTRACT
The approach used to account for variations in patterns of national development which has been elaborated to analyze the relatively slight differences between English-speaking Canada and the United States may also be employed in an effort to understand the variations between Latin America and Anglo-Saxon America. Most sociological analysts, following in the tradition of Max Weber, have placed a major independent role on the effect of values in fostering economic development. In classic analysis of economic development, Joseph Alois Schumpeter pointed out that the key aspect of entrepreneurship, as distinct from being a manager, is the capacity for leadership in innovation, for breaking through the routine and the traditional. In many countries of Latin America, members of minority groups, often recent immigrants, have formed a considerable section of the emerging business elite. Immigrant and minority groups have shown comparable abilities to take advantage of, or to create, opportunities in other parts of the underdeveloped world.
