Explaining inequality: economic elite narratives across Latin America
2026-07-30
Drawing on 130 in-depth interviews with economic elites in Mexico, Uruguay, and Honduras, this paper analyzes how elites understand economic inequality by examining two distinct but related dimensions: their explanations of poverty and of wealth. The findings reveal cross-national variation informed by perceptions of institutional capacity. In Uruguay, elites primarily justify inequality through meritocratic narratives; in Honduras, the visibility of state failure renders individualistic explanations less plausible, leading the wealthy to acknowledge structural constraints. Mexican elites occupy a middle ground, acknowledging structural constraints on poverty while defending the merit of wealth. The analysis suggests that perceptions of robust institutions “free” elites to invoke meritocratic arguments. Conversely, in low-capacity contexts, the visibility of corruption and institutional weakness makes structuralist views more salient in elite reasoning. These findings challenge the notion that elites hold uniform meritocratic views, showing instead how they draw on local realities to frame their interpretations of inequality.