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Old bastions of socialism such as Argentina and the Czech Republic have exchanged their top-down economic policies for bottom-up free market ones.

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In fact, four of the most notable free market thinkers and Nobel Laureates, Friedrich Hayek, Milton Friedman, James Buchanan, and Vernon Smith, all hold honorary degrees from the Universidad.

As time has passed, the west has become increasingly comfortable with left-leaning governments, while Latin America has pushed towards the right.

And no school has more enthusiastically spearheaded this change then the Universidad Francisco Marroquin in Guatemala City. Ayau, the Universidad teaches all subjects, from Don Quijote literature to the School of Film and Visual Media, from a free market perspective.

One might suspect the leading entry on this list to be an American institution.

For many years America was uniquely associated with classical economics, but the world is changing.Today, the Atlas Network connects over 450 different think tanks in almost 100 countries.