The Chilean Economy and heterodoxy in the periphery

In an interview here (in Spanish), Carlos Ominami, ex-finance minister during one of the Consertación administrations, argues that Chile did not really have one model after the coup against Allende, but a sequence of policies, not always coherent, that cannot be reproduced by other countries. Further, he points out that the Chicago Boys did NOT privatize Codelco and actually increased the government revenue associated to nationalized copper.

He also notes that the infamous privatization of the pension system was a complete failure, "the marketing was the best thing about the pension system" according to him, and that forced later Socialist governments to re-introduce a State run system.

In other Chilean news, Esteban Pérez Caldentey gave a talk (here; in Spanish too) at the Universidad de Chile on heterodox (post-Keynesian) approached to economics, opening the door in a traditionally mainstream environment for broader and more pluralistic views.

PS: On Chile model you can read James Cypher's paper in Dollars & Sense here.

Comments

  1. Also, Joseph Collins and John Lear's book, "Chile's Free Market Miracle: A Second Look"

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