Liberal Forum

Cannonpointer » 29 Jul 2014 5:25 am » wrote:The debunked pretense that capitalism desires or even tolerates free markets is given the lie by the Singapores and the Chiles of this world. The "freer" capital, the more the PEOPLE are enslaved.

The economy of Chile is ranked as a high-income economy by the World Bank,[9] and is considered one of South America's most stable and prosperous nations,[10] leading Latin American nations in competitiveness, income per capita, globalization, economic freedom, and low perception of corruption.[11] However, it has a high economic inequality, as measured by the Gini index,[12] ....

According to the CIA World Factbook, during the early 1990s, Chile's "reputation as a role model for economic reform" was strengthened when the democratic government of Patricio Aylwin, who took over from the military in 1990, deepened the economic reform initiated by the military government. Growth in real GDP averaged 8% from 1991–1997,[citation needed] but fell to half that level in 1998 because of tight monetary policies (implemented to keep the current account deficit in check) and because of lower export earnings, the latter which was a product of the Asian financial crisis. Chile's economy has since recovered and has seen growth rates of 5-7% over the past several years.[citation needed]

After a decade of impressive growth rates, Chile began to experience a moderate economic downturn in 1999, brought on by unfavorable global economic conditions related to the Asian financial crisis, which began in 1997. The economy remained sluggish until 2003, when it began to show clear signs of recovery, achieving 4.0% real GDP growth.[18] The Chilean economy finished 2004 with growth of 6.0%. Real GDP growth reached 5.7% in 2005 before falling back to 4.0% in 2006. GDP expanded by 5.1% in 2007.[19]
http://en.wikipedia.org/wiki/Economy_of_Chile