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The twentieth century offered opportunities for rapid resource-based growth that Latin America systematically missed. Even if it were clear that resource-abundant countries have, on average, experienced relatively slow growth, the more interesting question is why some? Australia, Canada, and the nations of Scandinavia, for example? developed successfully while others did not. 1 This paper argues that the causes of Latin America's underperformance and acute sense of depen dency can be found in barriers, with deep historical roots, to technological adoption and innovation. The most important was and remains deficient