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.
It seems the reach and influence of central banks has never been higher, yet they are increasingly flying blind in an environment where central bank tools are growing ever more imprecise and dangerous.
To adopt a Rawlsian account of justice, you have to accept democratic participation in a strong sense. For Rawls, the people in a society must decide political questions together.
What bureaucrats call "safety" often just means lower wages and more unemployment. This hardly provides workers with a safer and more secure life overall.
Compulsory public schooling is like having the government use the taxpayers' money to set up a nationwide chain of public newspapers and then compelling all people to read them.
Jimmy Carter doesn't get credit for his deregulation efforts, but his initiatives probably were as significant a boost to the economy as any president has accomplished since 1980.
