3 Chile's Presidential election - Nothing is Sacred: Economic Ideas for the New Millennium by Robert J. Barro

Chile'sRead more at location 975

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Since the mid-1980s, Chile has been one of the world's fastest-growing countries, despite the recession in 1999-2000.Read more at location 977

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growth rate of 5 percent annually from 1985 to 2000Read more at location 978

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This growth lowered substantially the fraction of the population living in poverty, even though indexes of the distribution of income did not change much.Read more at location 979

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infant mortality fell from around 80 per thousand in the early 1970s to about 11 in 2000, and life expectancy climbed from sixty-four to seventy-five years. Read more at location 980

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Undoubtedly, Chile's outstanding economic performance derived from the free-market reforms instituted by the administration of General Augusto Pinochet from 1973 to 1989.Read more at location 981

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Some of this antipathy derives from the general's poor human rights record, especially in the 1974-1976 period after the coup against President Salvador Allende. The crimes of these years did not seem necessary for preventing revolutionRead more at location 982

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Pinochet ought to receive credit for peacefully relinquishing most of his authority in 1989.Read more at location 984

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no one has done more than Pinochet and his economic teams to demonstrate the superiority of free-market capitalism over socialism.Read more at location 986

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An amnesty law allowed the country to achieve sufficient consensus to consolidate democracy without destroying the pro-market economic system.Read more at location 987

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This consensus was disturbed by the propensity of the administration of President Eduardo Frei to prosecute retired generals for crimes of the 1970s. Further trouble came in London in October 1998 when Pinochet was arrestedRead more at location 988

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Chilean government responded with only mild objections. Fortunately, a Chilean panel of judges decided in 2001, after Pinochet had been returned to Chile, that the former general could not be tried for his alleged crimes because of his poor health. Read more at location 990

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Lagos's economic program was summarized by his motto "growth with equality"Read more at location 991

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Thus, the policies would not cause great economic harm but would also not lead to further economic improvements. Read more at location 994

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