I couldn't help but call into Monday's show on Michael Reid's new book "Forgotten Continent: The Battle for Latin America's Soul." After I heard Mr. Reid's amnesiac reference to US intervention "not being decisive" in the wave of free-market dictatorships that displaced leftist governments in Latin America I almost swore off The Economist for good (where Reid works). Of course, The Economist's evaluation of Pinochet was that he "rescued Chile from communism and went to turn it into the fastest-growing economy in Latin America by applying free market policies." The Economist also called Pinochet's rise to power a "counterrevolution." Even an undergrad who sleeps through Poli Sci 101 knows the difference between widespread popular support for a counterrevolution and A COUP! One involves people protesting the government, holding referendums, etc. The other involves tanks storming government office buildings.
This miraculous turnaround The Economist attributes to Pinochet included a 15% drop in national output, an increase in unemployment to 20%, and 15% average wage reduction. Chile’s GDP in 1986 had only regained the 1970 level (under Allende), real wages were still depressed, per capita consumption was 15% lower. Between 1985 and 1990 the income of the top 10% increased by 90% while the share of wealth for the poorest 25% declined from 11% to 7%. The share of national income for labor fell from 47.7% in 1970 to 19% in 1990.
Would that Latin America did become the "Forgotten Continent" - they'd be a hell of a lot better off.
Subscribe to:
Post Comments (Atom)
3 comments:
Hello !.
You may , probably very interested to know how one can manage to receive high yields .
There is no need to invest much at first. You may start earning with as small sum of money as 20-100 dollars.
AimTrust is what you thought of all the time
The firm represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
It is based in Panama with affiliates everywhere: In USA, Canada, Cyprus.
Do you want to become an affluent person?
That`s your choice That`s what you wish in the long run!
I`m happy and lucky, I started to get income with the help of this company,
and I invite you to do the same. It`s all about how to select a proper partner utilizes your savings in a right way - that`s AimTrust!.
I take now up to 2G every day, and my first deposit was 1 grand only!
It`s easy to get involved , just click this link http://hepopifaka.virtue.nu/ywyrudi.html
and go! Let`s take our chance together to become rich
Good gradually.
This excellent phrase is necessary just by the way
Post a Comment