Tuesday, March 2, 2010

Legacy

In the wake of the earthquake that struck Chile last Saturday (8.8 on the Richter scale, "nearly 500 times more powerful than Haiti's"), this analysis from yesterday's Wall Street Journal: How Milton Friedman Saved Chile.
It's not by chance that Chileans were living in houses of brick—and Haitians in houses of straw—when the wolf arrived to try to blow them down.

It seems to me so painfully obvious as to what works and what doesn't, in terms of running a country and economy, that this sort of opinion piece should be made redundant. That there is still debate in academia and politics (especially academia) over the merits of a free-enterprise system, along the lines advocated by Milton Friedman and the University of Chicago in its heyday, seems to be missing the point of countless historical lessons.

I'd love to see Naomi Klein attempt a response.

Update: More on the Haiti-Chile disparity.

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