Chile Won’t Become a Developed Country If It Doesn’t Change Course

For many years, Chile was the exception in Latin America, with an unprecedented model of sustained economic development. Contrary to populism and demagoguery, the Chilean recipe for the last forty-five years was respect for private property and entrepreneurial freedom. Indeed, the phrase “Chilean miracle” was even used by economist Milton Friedman to describe the Chilean economy’s reorientation in the 1980s from socialism to a free market economy. Many other commentators looking at Chile’s remarkable growth in recent decades have come to a similar conclusion.

Lockdowns in Europe Are Back. Turns Out Early Lockdowns Didn’t “Beat the Virus” after All.

Back in August, European politicians were threatening lockdowns and calling for “vigilance.” But given the economic devastation wrought by full, nationwide lockdowns, politicians have become fearful of going down that road again. For example, in the Czech Republic, where the seven-day average for reported covid deaths has surged from 7 to 66,  the central government has stated it won’t make a decision about lockdowns for two more weeks.