Pinch, Punch, First of the Month

 

As the world, our attention and the click-bait news cycle rumbles on, here is a reminder of the ongoing fight in Chile.

 

For decades, Chile has been a poster child for the radical, neoliberal project – its sole success story in the face of the former Soviet Union, East Asia in 1997, the EU, Pacific, Caribbean, Africa and, of course, the rest of South America. Indeed, it is not unusual to hear commentators like Niall Ferguson declare the wonder of Chile as easily worth the horror of Pinochet.

 

So, as the fight continues and the vested interests of the Washington Consensus, grown weaker by the year, look on in anguish as their mother, like Saturn, devours yet another one of her children, I thought I’d revisit and share an elucidating commentary from one of our sharpest economic observers.

 

Branko, take it away:

 

Branko Milanovic, ‘Chile: The poster boy of neoliberalism who fell from grace’

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