But try to explain to progressives that privatized Social Security accounts, school choice, and other free market are empirically far better for the average citizen than statist solutions, and they’ll look at you as if you’re at best mad and, more likely, downright evil.
I’m in Vienna, Austria, for the annual European Resource Bank meeting.
He shared a chart that conclusively shows why good economic policy makes a difference.
Wow. Look at how much faster the economy has grown since the communists were ousted in 1975 and replaced by a pro-market government.* And the poverty rate has plummeted from 50 percent to 11 percent!
Simply stated, economic reform has been hugely beneficial to poor and middle-class people in Chile. Something to remember as we try to rein in the welfare state in America.
Let’s look at some more data. A couple of years ago, I shared this chart showing how Chile had out-paced Argentina and Venezuela. In other words, Chile’s performance is ultra-impressive, whether examined in isolation or…
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