Obituary: Manuel Ayau, regional champion of free markets and rule of law

“We believe in the rule of law and not of persons or groups of persons, be they a minority or a majority.” So said Guatemalan businessman Manuel Ayau when he inaugurated the Francisco Marroquín University in Guatemala in 1972.

 

The rule of influence – rather than rule of law – is widely considered a major obstacle in Latin America for entrepreneurs and small businesses, they complain.

 

Ayau, who has died at the age of 84, had an impact well beyond the university.

 

Original source: Latin Business Chronicle