Young Voices Advocate Axel Kaiser has been published on Forbes.com. In his opinion piece
‘Is This The End Of The Chilean Economic Miracle?‘ Axel writes about the upcoming elections in Chile and the potential threat to Chile’s current economic system and prosperity:
As a result of this free market revolution, the Chilean economy boomed. In the last 35 years poverty has fallen from 50 percent to 11 percent, per-capita income has increased from 4.000 dollars to almost 20.000 dollars and inflation was reduced from over 250 percent per year to less than 7 percent per year. This remarkable record has been known as Chile’s ‘economic miracle’.
Key to the entire free-market transformation were the political institutions established in the Constitution of 1980, which despite several reforms in the last two decades continues to be the highest law of the country. Like the American Constitution, the Constitution of 1980 established a limited democracy. Its central aim was to secure economic liberty and private property so that the country would not fall prey again to collectivist tendencies that could threaten to destroy both the economy and the democratic institutions.
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