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Chile

How a free-market made Chile the richest Latin American country

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.

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