Massive "fiscal stimulus" programs by European governments failed to reduce unemployment. The latest buzzword from the Continent is the "entrepreneurial state," based upon the delusion that government spending and regulation are responsible for wealth creation by private entrepreneurs.
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.
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.
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.
Far from being a tool of "exploitation," industrialization and free trade are proven strategies to bring higher standards of living to the developing world.
