>>7715785Do you know anything about Chile besides haha helicopter go brrrrr, how absolutely ratfucked their economy was when James Buchanan, Hayek and Friedman's Chicago boys revolution took the reigns right.
>privatized 500 state-owned companies and banks costing 177,000 jobs>banned trade unions>public schools replaced with vouchers and charters, kindergartens privatized>privatized social security>healthcare is out of pocket>allowed new forms of speculative finance>opened borders to cheap foreign imports destroying the manufacturing core>eliminated price controls>government spending cult in half by the 80s>GDP drops to WW2 levels>unemployment of 30%>Inflation hits 375% and thought it would magically go down like a fever>74% of family income goes to buying just bread>Friedman's own pupil Gunder Frank defects after seeing the impact in personIt was a libertarian market wet dream and it was an utter corporatism catastrophe. Hyper-inflation and a debt crisis caused by the $14 billion debt the vultures accumulated buying up all the country's assests crashed the economy in '82. Because they never privatized Codelco, the state copper mine it's 85% export revenue kept Chile afloat while Pinochet renationalized many companies. Even when they stabilized in '88, 45% of people were below the poverty line and the richest 10% of Chileans incomes had increased by 83%. It was one big transfer of public wealth into private hands and private debt into public hands. Same story with the chicago school in Argentina, Uruguay and Brazil.
