Milton Friedman
Sunday, May 06, 2007
MILTON FRIEDMAN ON THE MIRACLE OF CHILE
"I have nothing good to say about the political regime that Pinochet imposed. It was a terrible political regime. The real miracle of Chile is not how well it has done economically; the real miracle of Chile is that a military junta was willing to go against its principles and support a freemarket regime designed by principled believers in a free market. The results were spectacular. Inflation came down sharply. After a transitory period of recession and low output that is unavoidable in the course of reversing a strong inflation, output started to expand, and ever since, the Chilean economy has performed better than any other South American economy."
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4 comments:
Great quote from a (late) great economist. My first time here. Love the site and will definitely return.
Good job on your page, it is very interesting. I am writing a thesis on the "miracle." Could you tell me where you got the quote by Friedman? Thanks a lot.
Where did you get this quote by Friedman? I am currently writing a thesis on the Chilean Miracle and would find it very useful to be able to properly quote him. Thanks a lot.
The speech delivered by Milton Friedman, entitled Economic Freedom, Political Freedom and Human Freedom canbe found here:
http://www.sbe.csuhayward.edu/~sbesc/frlect.html
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