A LITTLE BACKGROUND ON THE “CHICAGO BOYS” FOR THOSE WHO ARE UNFAMILIAR:
SOURCE: https://en.wikipedia.org/wiki/Chicago_Boys
The Chicago Boys were a group of Chilean economists prominent around the 1970s and 1980s, the majority of whom trained at the Department of Economics of the University of Chicago under Milton Friedman and Arnold Harberger, or at its affiliate in the economics department at the Pontifical Catholic University of Chile.
Upon their return to Latin America they adopted positions in numerous South American governments including the Military dictatorship of Chile (1973–90). As economic advisors, many of them reached high positions within those.
The Heritage Foundation credits them with transforming Chile into Latin America’s best performing economy and one of the world’s most business-friendly jurisdictions.
However, critics point to drastic increases in unemployment that can be attributed to policies implemented on their advice to fight inflation. Some (such as Nobel laureate Amartya Sen) have argued that these policies were deliberately intended to serve the interests of American corporations at the expense of Latin American populations.
Peter Kornbluh states that in the case of Chile, American attempts to influence the Chilean economy ceased once the Chicago Boys had gained political influence; this may have been the true underlying cause of the subsequent increase in economic growth.
I don’t trust anything referring to “Chicago” in it...except Milton Friedman, University of Chicago.
It’s a country that can really be something if they can get their act together.
Closer to four and they are not quite first world yet although they are not far from it.
In the 1970's people were starving and first part of the 1980's people were going hungry. By the late 1980's people were well fed.
While people may not think that was a great achievement it is more then was the human race achieved in several thousand years.
But they understood that you need to start with the basics. Once you have people fed and housed with basic sanitation you can begin to make great strides forward.
Best thing Pinochet ever did.
That fact alone will make the Leftist heads explode.