In recent decades, Chile set itself apart from the rest of Latin America with successful market reforms and a stable political system. Average Chileans prospered. But now that's all at risk.
As we face a second wave of coronavirus outbreak in Europe, we know that the March measures and aggressive lockdowns were a grave mistake.
Twenty years ago, it looked like Chile was well on its way to joining the world's small club of developed countries. But this path looks less and less likely as Chile abandons its commitment to freedom and markets.
Twenty-first-century socialism, which has been so popular in Latin America for many years, has failed in a way that mirrors the failure of twentieth-century socialism in other parts of the world.
In an unhampered economy, monopoly is not a framework distinguishable from “pure” competition. In fact, inefficient monopolies arise only in case of government interventionism.
Twenty-first-century socialism, which has been so popular in Latin America for many years, has failed in a way that mirrors the failure of twentieth-century socialism in other parts of the world.
Leonard Read has explained how so many Americans arrived at the clearly false notion that a government post office is necessary.
Far from being a tool of "exploitation," industrialization and free trade are proven strategies to bring higher standards of living to the developing world.
