Foreword / Michael Armacost and Enrique V. Iglesias -- Virtuous circles in Latin America's second stage of reforms / Nancy Birdsall, Carol Graham, and Richard H. Sabot -- Kinds and causes of inequality in Latin America / John Sheahan and Enrique V. Iglesias -- Structural reforms and equity / Eduardo Lora and Juan Luis Londoño -- Growth with equity: the volatility connection / Michael Gavin and Ricardo Hausmann -- No tradeoff: efficient growth via more equal human capital accumulation / Nancy Birdsall and Juan Luis Londoño -- Inequality-reducing growth in agriculture: a market-friendly policy agenda / Michael R. Carter and Jonathan Coles -- Economic policy and labor market dynamics / René Cortázar, Nora Lustig, and Richard H. Sabot -- Equity benefits from financial market reforms / Liliana Rojas-Suárez, and Steven R. Weisbrod -- Pension reform: an efficiency-equity tradeoff? / Estelle James -- Reforming public monopolies: water supply / Raquel Alfaro, Ralph Bradburd, and John Briscoe -- Inequality and growth: implications for public finance and lessons from experience in the United States / Joseph Stiglitz -- The political economy of institutional reform in Latin America / Carol Graham and Moisés Naim.