Give a Digg to a Country who supports Free Markets

[Arklatex]

http://digg.com/business_finance/Invest_in_Chile


=) Here's to the enlightenment of socialists.

 

[ronpaulhawaii]

dugg

lol @ style

 

[swirling_vortex]

So much for "disaster capitalism".

 

[Arklatex]

=)

Conch y Toro wine is some good stuff!

 

[jclay2]

I am a little confused how Chile is such a capitalist country?

 

[tmosley]

He is recommending Madeco, even though they have shifted from copper production to plastic freezer bag manufacturing. I'm not sure why anyone would think that is a growth industry...

 

[Arklatex]

first Latin American economy in living memory to implement the free market properly under its dictator-president Augusto Pinochet (1973-90), who early in his rule decided that socialism didn’t work and hired a bunch of advisors from the University of Chicago.

Pinochet privatized Chile’s major companies, and in 1982, Chile became the first country to privatize its social security system.

tmose, i'm not recommending a stock, just talking about it. There was a thread around here yesterday where I gave my recommendations to others. Companies that aren't in "growth" industries are usually the high dividend paying stocks though, but they still are heavily involved in copper and such as i understand it, they are diversified.

 

[tmosley]

I guess I can live with that.

 

[JdotRdot]

I am a little confused how Chile is such a capitalist country?

http://en.wikipedia.org/wiki/United_States_intervention_in_Chile

i only glazed over it, but much of the information seems accurate...Chile isn't in favor of free market, it's just another crony government siphoning resources to the US

 

[Objectivist]

http://digg.com/business_finance/Invest_in_Chile


=) Here's to the enlightenment of socialists.

Here's the facts about the Chicago Boys. Between 1957 and 1970 about 100 Chilean students studied economics at the University of Chicago. Friedman had minimal contact with them but they had been part of his money and banking workshop. When they returned to Chile they had strong beliefs in the free market and became know as the "Chicago Boys."

Note they were Chileans and not Chicagoans.

Friedman did visit Chile in March of 1975 with other staff from the University of Chicago to discuss his economic theories. He was offered honorary degrees from two of Chile' universities, but he turned them down for fear of it looking like he supported the Pinochet government, which he did not.

But the growth of Chile using most of Friedman' ideals kept the growth of Chile well above the rest of South America even in down times.

 

[Objectivist]

On the production of copper, Pinochet did keep control of the largest copper mine at that time under government control but did allow NEW companies to compete in the mining industry by opening new mines. His holding was to insure the security of the countries number one money maker at that time.

The only thing that hampered more growth was his refusal to change the exchange rates.

 

[Arklatex]

how are you so familiar with Chile objectivst?