Chile: Latin America's Middle Way
Alejandro Foxley was Chile's finance minister in the first civilian government
of Patricio Aylwin after General Agusto Pinochet left the Palacio de la
Moneda. Foxley is largely credited with Chile's "growth with equity"
development model that has been called Latin America's "middle way,"
much as Sweden was labeled Europe's "middle way" in the early
days of the Cold War because it chose neither communism nor capitalism
Under Foxley's guidance, the Chilean government remained
on the path of orthodox monetarism, fiscal conservatism, privatization
set by General Pinochet but, at the same time, initiated aggressive social
spending and an incomes policy to close the gap between the rich and the
poor.
Santiago - Too great a gap between rich and poor
leads to political instability. That is the history of Latin America.
In the 1990s, we ant to leave that history behind.
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