Chile Investment, how to invest in Chile, what to watch out for when investing, economic issues, currency exchange in Chile, and more.
- Rank: Chile Forum Citizen
- Posts: 112
- Joined: Mon Sep 16, 2013 12:52 pm
- Location: Valdivia
I agree that the Chicago Boys should not get the credit they often do. Ffrench-Davis, who is a middle of the road Chilean economist, makes a pretty strong case that it was the ousting of the Chicago Boys which led to the long-run recovery of the Chilean economy. He argues that their policies led to the great recession in Chile in 1982, and the subsequent recovery was based on neo-Keynesian reforms. Pinochet was pretty pissed at the Chicago Boys, I understand. That is not to say that the influence of the Chicago Boys stopped after 1982, but rather that it was tempered. The effects of their policies are clear even today. The recent controversy over education, especially higher education, has roots in the privatization program started by the Chicago Boys. Ditto pension reform.
I'd disagree too that Brazil and Argentina have been historically close. They have been rivals since independence. In the 1970s and 1980s they even competed to build nuclear weapons. In 1991 they signed an agreement to end their programs, and created the Brazilian–Argentine Agency for Accounting and Control of Nuclear Materials. I'm not sure about this, but I believe that Argentina got more European (especially southern European) immigration than did Brazil. Just learned this from one of my students: Brazil has the largest Japanese expat community in the world. Probably not the biggest immigrant community in Brazil, but still the biggest Japanese expat community in the world. As for the Chileans, well they used to be called the British of Latin America, so I guess that's still Anglo-Saxon.