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
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.
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.
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)
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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