Annualized per capita real GDP growth for Chile under Pinochet (1973-1990):
1.6%

Annualized per capita real GDP growth for Chile in the 17 years after Pinochet (1990-2007):
4.36%

Pinochet is way overrated
I mean, come on people. This was the glorious reign of the great enlightened despot? Puh-leeze.
But don't believe me, believe the great @pseudoerasmus:
medium.com/@pseudoerasmus…
Pinochet let in hot money to pump up a real estate bubble that then went bust.

Just like your average authoritarian leader looking for short-term growth to paper over the unpopularity of his repression.
This pretty much says it all.
The standard line on Pinochet is "Yeah sure he was good for the economy, but he did all these horrible things".

And yeah that would be a good line IF he had actually been good for the economy.

In fact, Pinochet-style despotism doesn't make you rich, folks. Don't try it.

(end)

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More from @Noahpinion

Feb 21
FWIW, I think "culture war concessions" works only at the level of the candidate, not at the level of policy -- when it works at all. Nothing could ever have convinced America that Obama was socially conservative, even though he was and is.
Biden is making all kinds of compromises and concessions on immigration, and no one is recognizing it or caring (except for progressives who notice and get mad).
You saw the same exact pattern with Jimmy Carter. By the end of his presidency he had tacked so far to the Right that progressives primaried him with Ted Kennedy and almost won. But Republicans kept on thinking he was leftism incarnate.
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1/Let's talk about Bidenomics.

Politically, Biden's agenda has stalled. But it's still what America needs, so don't expect the basic ideas to go away.

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2/I think of Bidenomics as being composed of three basic elements:

1. Investment (both government and private)

2. Cash benefits

3. Care jobs

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OK, let's do this. 10 likes = 1 hot take.

(Used to be 1 like = 1 hot take, but...inflation)
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All the usual suspects are jumping all over Lisa Cook's paper from 2014 and pointing out small errors. But Ken Rogoff served on the Fed Board of Governors and I bet you nobody combed over his papers for errors before he was confirmed! And I bet you he made a few.
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Read 11 tweets
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We need a Xillennial-Zillennial alliance, of people who are just a little too old for Millennial bullshit and people who just are a little too young for Millennial bullshit.
Anyone who was born 1980-1986 or 1997-2003 is in the Xillennial-Zillennial alliance. We must unite against the people whose brains were broken by coming of age between the Great Recession and Trump.
The people in that middle decade shall be known as the Harry Potter Generation
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Feb 16
This is very wrong. 84% of working-age men have a job in America.
And 88% are either employed are looking for work.
The Yahoo article got its number wrong and needs to issue a correction.
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