Must-Read: Martin Feldstein: Chile’s Uncertain Future

Must-Read: Michelle Bachelet was a minister in the Chilean government–first Health, then Defense–from 2001-2005, and President of Chile over 2006-2010. So why this from Martin Feldstein?

Martin Feldstein: Chile’s Uncertain Future: “Chile’s excellent economic performance has been the result of the free-market policies introduced during the military dictatorship of General Augusto Pinochet…

…but confirmed and strengthened by democratically elected governments over the 25 years since he left office. So, given the success and popularity of these policies, it is surprising that Chile’s voters have elected a president [i.e., Michelle Bachelet] and a parliament [i.e., led by her party] that many Chileans now fear could put this approach at risk…

Those “confirmed and strengthened… over the [past] 25 years” governments include the 2001-2005 government in which Michelle Bachelet was a minister and the 2006-2010 government in which she was President of Chile, no?

Unless you already knew that, you certainly wouldn’t learn it from Feldstein’s column.

And, in fact, at the end of the column Feldstein writes:

Bachelet’s critics agree that Chile… policies… [while she is president will have] an independent central bank committed to price stability, a free-trade regime with a floating currency, and a fiscal policy that will keep deficits and public debt low…

Huh?!?! What’s the problem?!

October 29, 2015


Brad DeLong
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