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Chile illustrates Hayek's idea. For more than 30 years, the country has persisted in opening its markets, allowing more and more competition, and fostering a strong rule of law, and these efforts have paid off in many ways. Chile today has one of the highest per capita gross domestic products (GDPs) in Latin America, has experienced high levels of economic growth, and conveys an institutional trust that has attracted local and foreign investment. Most important, it has severed itself from reliance on international aid, on which most Latin American countries depend. By following the 10 steps to economic freedom, Chile has become more prosperous. Continuing on this road will transform Chile into a developed economy for future generations.

Bump!

B-b-b-b-b-but this can't be! What's all this stuff in the article about Pinochet liberalizing the economy, establishing the rule of law, returning industries seized by Allende to the private sector, and eventually ushering in a liberal democracy? I thought the "democratically elected" Marxist/Lenninist Salvadore Allende was supposed to be the good guy?

I mean, we all know that Allende would never have been overthrown without the evil machinations of the CIA. I just can't imagine that the Chilean people would have turned against the "democratically elected" Marxist/Lenninist Salvadore Allende just because of soaring joblessness, triple digit inflation, massive capital flight, government seizure of their assests, the creation by Allende of a private army, and all that minor stuff.