Wednesday, April 20, 2011

Cool Chile

Has Chile moved right, or made the right move? Maybe both? Investor's Business Daily reports Chile has turned down a constitution change that would have permitted public employee unions to bargain collectively and strike. Good for Chile.

The Chilean constitution forbids public employee bargaining and strikes, and includes right-to-work. If you were going to invest in Latin America, Chile would be at or near the top of your list of choices.

It's not politically correct to mention that today's prosperous Chile is the handiwork of Augusto Pinochet's economists, acolytes of Milton Friedman. It's true, of course, but definitely not p.c.