Professor Luis Garicano's new book, El Dilema de España (Spain's Dilemma, Península 2014), published on Thursday 16 January 2014, has been covered extensively by Spanish media.
In this book, Garicano argues that "Spain is at a crossroads. On the one side is the "easy" path, towards state capitalism and populism, the Hispanic way to underdevelopment so beloved of Venezuela and Argentina and always tempting for Spain. On the other side is a path that requires substantive institutional changes in the short run. Garicano argues for a decisive bet in this second direction, based on human capital investment, an in-depth reform of the State and the administration of justice to ensure that laws are enforced, and proposes a practical vision of what Spain needs to do to get out of the hole it has fallen into."