Democratizing development: Inequality in Latin America
Global Leadership Roundtable
São Paulo, Brazil
November 2023
In partnership with the HBS Latin America Research Center
Welcome | Bienvenido | Bem-vindo!
Latin America has experienced remarkable economic growth in recent decades. Many of its key economies have been transformed, and numerous companies have become global industry leaders. Despite this significant wealth generation, the region still struggles with "inequality of opportunity," in which individuals and families face barriers beyond their control, preventing them from improving their circumstances.
Government policies to address these inequalities have varied widely, from Chile’s Chicago School model to Venezuela’s socialism, but none have proven fully successful. Businesses traditionally have focused on investing, innovating, and creating wealth.
Recently, however, there has been a growing call for business leaders to take a more active role in creating an economic system that works for everyone. In November 2023, the Institute for Business in Global Society (BiGS) partnered with the Harvard Business School Latin America Research Center to convene leaders from across the region to discuss the role of business in addressing inequality. Seventy executives from industry, academia, government, and the nonprofit sector, along with nine Harvard faculty members, met in São Paulo, Brazil, to explore actionable measures that Latin American enterprises can take to drive inclusive prosperity and upward mobility.
Learning resources
At BiGS, we want to make resources and learning materials accessible regardless of your location. In this section, you will find key reading materials from the HBS BiGS 2023 Global Leadership Roundtable in Latin America, case studies, videos, and more.
Roundtable report
Democratizing development: How business can accelerate economic mobility
This report details a BiGS 2023 Global Leadership Roundtable in Latin America event focused on the appropriate and feasible role that private firms can play in addressing persistently high levels of economic inequality in Latin America.

BiGS Voices: Latin America
Dive into the heart of Latin American business with #BiGSVoices. This compelling interview series brings you the perspectives of global leaders whose values are consistent with the mission of HBS BiGS.
Tune in to hear insightful conversations with CEOs from across the region about businesses' pivotal role in addressing economic inequality in Latin America.
- Video duration:13:23Gaston Bottazzini, Falabella
- Video duration:15:42Fulvio Pagani, Grupo Arcor
- Video duration:14:08Enrique Téllez Kuenzler, Desarrolladora Del Parque
- Video duration:9:31Fernando Assad, Vivenda
Businesses taking action
Leading businesses in Latin America are pioneering initiatives that advance economic equity. This video highlights key actions by these companies to promote economic mobility and offers valuable insights for CEOs and business leaders who are passionate about fostering economic equality. Watch the video to learn more about these inspiring efforts and how they shape a more equitable future.
Featured:
Carlos Danel, chairman of Gentera and cofounder of Compartamos Banco
Carla Sarni, CEO of SaluS Participações
Woods Staton, executive chairman of Arcos Dorados
Leading businesses in Latin America are pioneering initiatives that advance economic equity. This video highlights key actions these companies are taking to promote economic mobility and offers valuable insights for CEOs and business leaders who are passionate about fostering economic equality. Watch the video to learn more about these inspiring efforts and how they shape a more equitable future.
Background report: Inequality in Latin America
This report provides an overview of the persistent inequalities that exist in Latin America. It was provided to attendees of the BiGS 2023 Global Leadership Roundtable in São Paulo, Brazil, as pre-reading for the event.
Case studies
Participants at the BiGS 2023 Global Leadership Roundtable in Latin America used these three case studies to debate business's role in addressing economic inequality.