Manuel Ayau was the founder and former rector and teacher of economics at Universidad Francisco Marroquin. Begun as an alternative to the prevailing statist views of higher education in Guatemala, Francisco Marroquin is now regarded as that country's finest university. In addition to being a successful businessman, Ayau was a former Chairman of the Guatemala Stock Exchange, a member of the Guatemala House of Representatives, and served as President of the Mont Pelerin Society. After meeting him in 1979, Ronald Reagan described Ayau as "one of the few people in the high political sphere who understands what is going on down there." Interviewer William (Bill) Weston is president emeritus of Foundation Francisco Marroquin, a U.S. effort launched in 1981 by three California professors of economics: Armen Alchian, J. Clayburn La Force, and Arthur Kemp, to support education in market principles in Latin America. Earlier he was in charge of public affairs at Sun Oil Compnay, now Sunoco, from which he retired in 1975 to assist in the growth of the Law and Economics Center founded by Henry Manne and Roger Miller at the University of Miami. Program Length: 69 minutes