Word: chileanizing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...country's expected export earnings, and the economy is barely limping along (see ECONOMY & BUSINESS). Yet few outside lenders have been willing to help out in the face of international condemnation-most recently, by the United Nations Human Rights Commission-of detention and torture of Chilean political prisoners. So last month when Chilean Finance Minister Jorge Cauas was in Washington seeking a $100 million loan, the Administration saw a way of combining humanitarian and diplomatic ends. Thus the Simon trip was arranged...
...Chilean coup that overthrew Salvador Allende in late 1973 replaced one set of economic ideologues with another. The Marxists who strove for total regulation of the economy have been succeeded by a group of policymakers known as the "Chicago Boys." Reason: they ardently embrace the free-market teachings of University of Chicago Economist Milton Friedman, who visited Chile for six days last year to counsel them...
Friedman himself does not defend the results. Says he: "It's absurd to talk about Chile as if it is an important test of my ideas. I don't even know if they have been carrying out my policies." His colleague Arnold Harberger complains that the Chileans have in fact been violating a prime tenet of Friedmanism: that a nation's money supply should expand at a steady but moderate pace. The Chilean money supply jumped 27.5% in this year's first quarter alone. The Chicago Boys retort that they have cut down as rapidly...
...controversy brings up the deeper question of whether Friedman's theories are really applicable to a poor, inflation-ridden country. Says one Chilean university economist: "In an underdeveloped country like Chile it is less possible to have a free-market economy than it is in a developed one. It is a question of size and scale." It is also a question of history: since the 1930s the government has tightly controlled key parts of the Chilean economy. Prices and wages have traditionally been set by the government; the major industries have long been monopolies. Competition, the present Chilean government...
...Chile "an over-extension of democracy led to a coup d'etat which has restored political stability." In fact, I never referred to the current political situation in Chile as stable; and I said it was the extension of political participation (not democracy) in the 1960s, which overwhelmed Chilean democratic political institutions and created the polarization leading first to Allende and then to the coup...