A window of opportunity has opened for Latin America. Thanks to its changing demographics, the region has a chance to accelerate its development and attack one of its greatest socioeconomic ills: inequality. Fertility rates are falling and a large cohort of children is entering the workforce. With fewer children to care for and still relatively few old people to pay for, the present generation of Latin Americans is in a position to be a motor for economic growth and an agent for social change. How long will this opportunity last? For the next two decades, most countries will enjoy a declining ratio of children to workers before a rising ratio of retired to active workers begins to represent a much heavier financial burden. This means 20 years toaccelerate the development process, put people to work, finance educational improvements and save for the future. If policies are enacted to further these goals, Latin America could open up its growth potential while it closes its...

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