By all economic and social accounts, Chile has been the most successful Latin American country of the last generation.
Since Chile became a democracy in 1989, this South American country has been the most successful economy in its region, by far. A region constantly overwhelmed by social unrest, political turmoil, and staggering levels of income inequality and extreme poverty.
We live in an era where great things have happened thanks to innovation. Everybody loves innovation and recognizes that is a force for progress. With the exception of maybe North Korea, no government in the world has an official policy to prohibit innovation or harass innovative people.
In the 70’s, Chile was a country devastated by Salvador Allende's interventionist policies. The socialist government had destroyed the economy and destabilized society, leaving the nation in a complete socio-economic ruin which was compounded by the lack of individual freedoms. Given the worrying situation, not surprisingly, the Chilean economy was moribund and other Latin American countries such as Mexico, Venezuela, and Argentina easily surpassed their standard of human development.