Chile, the model child of economic development in Latin America, has exploded. Some accuse the narcos, other the Cubans and Venezuelans but the explanation is simple. It's about the people.
As opposed to neighboring countries like Argentina and Uruguay, Chile democracy works for the very few. Chile has an absurdly expensive private education and health system. The privatized pension system failed to deliver, retirees are broke.
Minimum wage in Chile is around $450 but universities cost around $600 per month, medical insurance around $500 per family, getting to work costs around $350 per month using public transportation.
Chile has a political class that is incredibly well remunerated. While in Europe and USA legislators make between 3 times and 8 times minimum wage in Chile it is 30 times. So legislators are incredibly privileged and side with the 1%.
Housing is also extremely expensive and few in Chile own their homes. In short a country with a GDP per capita of $15k that can't offer affordable housing, health and education for all and let's old people go broke will eventually have tremendous social unrest.
A Chile le ha ido muy bien. Ahora solo falta que le vaya bien a los chilenos.
