Milton Friedman and Chile - The Power of Choice

[Chilavert2010]

Freedman's free market DIDN'T work in Chile as it DOESN'T work in Greece nowdays.

Tottaly free Markets decrease the inland revenue which is extremely important in a situation of crisis. The transformation ~of Chilean life~ begun when your leader (Pinochet) back then started to exported minerals which it was the only thing that didn't sell and kept it for this goverment. No, I DON'T say that Minoichet was a great leader.

[3rid3s]

@Chilavert2010 Just for your information - Greece is a typical example of the failed regulated market SOCIALISM, not the free market capitalism. You can find a free market societies in Switzerland and some Asian countries as for example South Korea, Hong Kong or Taiwan. So stop talking nonsences

[THEINVENTABLETHREAT]

Let's be totally honest. Chile was still a piece of shit under the fascist Pinoche's totally free market. It wasn't until Chile adopted a more standard western style economic reform, that went against Milton's totally free market ideology, is when Chile really started to thrive. This is painfully obvious when studying the facts and data.

[maisantaerikakirea]

just see the statistics and you will see that the good economy favor the oligarchy...thats why Pinera government has such opposition. Fuck neoliberalism, fuck concept of the human being reduced to a merchandise!!!

[maisantaerikakirea]

that guy speaking collaborate directly with pinochet he should be behind bars!!!!!

[maisantaerikakirea]

we in Chile know exactly about your stupid ideas and the damage on our society and the milton friedman advices and participation with Pinochet's dictatorship

[MasqueofAnarchy]

And then everything crashed.

[FantabulousNoise]

This segment glosses over the US govt.'s/ CIA's intervention in the Chilean economy under Allende. Nixon is on record as having instructed his people to squeeze Chile's economy.

[pismo10]

The power of freedom over big govt. Same choices today ... The people(freedom) or Obama(big govt)

[eggory]

@pismo10 Free people always have the choice to sell themselves into slavery. Your nation's ctizenry still has plenty of freedom to work with, they're just failing to use it.

[fava655]

@pismo10 the "power of freedom" vs the "big bad govt"?? haha. you are so basic.

[pismo10]

@fava655 It is the same premise for 5000 years. Liberal losers like you who are incapable of succeeding on their own want mommy govt to run everything and everyone, with little to no freedom. Others, who have a clue and have read some history understand the precedent set by big govt. It is always the same, low living standards, little freedom, widespread suffering. Freedom yields the opposite, always has, always will.

[CesarDelgadoGzlez]

@pismo10 At the beginning of civilizations it is required to organize everythingending in societies wrapped in central powers. Instead of barbarians fighting one to the other, civilization is created. But, once people has enough education, this is no longer necessary. This is the stage in which humanity is now, decentralize powers, starting with information, money, energy, government, etc. But, in a world of barbarians, order is required to create civilization.

[tehatemachine]

@CesarDelgadoGzlez What was basically done was that since every human is greedy. What better way to use that then to have them acting upon their own self interest that in a way benefits someone else. My example. I have a stand. I sell cookies, The cookies have to be good enough to sell so i can get money out of it. :D

[sergiomendozacoromin]

Would these huge changes have been possible in democracy? Would the huge economic transformations in China be possible in democracy? Would either of these two nations reverse their new economic paradigms once democracy has been recovered?

Neither of these two "economic revolutions" would have happened in democracy. Neither of the two nations would reverse their new economic paradigms once they have recovered democracy.

These are the interesting issues to be discussed.

Sergio Mendoza Corominas

[HelmetVanga]

Chile & Bolivia signed the Peace & Friendship Treaty of 1904 but Chile violated that treaty 1) by planting 90,000 mines along its border 2) by not letting Bolivia use the Iquique port 3) by not maintaining rail road from Arica to La Paz 4) by re routing the Lauca river to benefit only Chile 5) By not paying to bolivia for using the Silala waters 6) by not removing the land mined as the Ottawa resolultion signed by Chile.

[jismith1989]

"He could not know that years earlier and 6,000 miles away..." Well, yes, he did know, as the Chicago boys were drafted in to liberalise Chile's economic system! One should see the levels of inequality now in Chile and the disparity in healthcare as well as the great wealth though.

[mauricio27year]

only one big detail is forgotten at the end of the video. The places shown correspond to the wealthiest part of chilean society, which is around 20% and they have an average income higher than the richest europeans countries. However, around 60% of chilean population has an income lower than Angola's average. Isn't something wrong there?

[YESobamaCANfuckupUSA]

@mauricio27year

lets just have a 100% zimbabwe like chile. also are you aware that those 20% and 60% are not fixed. some people in the 60% bracket can move to the top 10% in a generation while some of the top 20% can fall all the way back dowm.

[mauricio27year]

@YESobamaCANfuckupUSA Ideally, that movement is possible. However, in the chilean reality, it goes in the opposite direction. I don't know what is the exact problem, but I think it is due to the tax system and educational system, as taxes are lower (in percentage) for the upper class and higher for middle and lower class. In the case of education, there is education for rich and poor people, which the respective increase of inequality. Just look at the evolution of Chilean Gini index.

[emp0rizzle]

@mauricio27year so what do you prefer? that everyone in Chile have income below Angola's? The video mentions inflation. Do you know what the inflation in Chile was during Allende's term? They reached 600%. If you care about poor people then you know that when hyperinflation occurs that the people who get hit the hardest are the poor. The standard way to fight hyperinflation is to stop printing money and move to a foreign reserve. But at the time Chile lacked any foreign currency in reserve.

[lukoshey79]

Pinochet and his cronies also annihilated the entire left trade unionists, farmers for regulation and the list goes on..., hes a war criminal, and freidman knew what was going on the whole time...he then went there in 1975 to tell Pinochet to squeeze them harder... fucking prick... Read the shock doctrine by Naomi klein ..

[SaulOhio]

@lukoshey79 Do you have ANY evidence at all that Friedman told Pinochet anything at all like that? Go read "The Klein Doctrine" by Johan Norberg. Practically everything in Klein's book is a big fat lie.

[00maharum00ma]

Also, the thing that people who worship Friedman will never tell you is that the Chicago Boys deliberately avoided privatizing Codelco, because they knew that it was the backbone of the Chilean economy and too important to jeopardize. Codelco is still the most important sector of Chile's economy, and one of the only reasons why it survived Friedman's "miracle."

[00maharum00ma]

Augusto Pinochet murdered over 3,000 people, tortured over 30,000, and imprisoned over 80,000 for political reasons. He had no interest in "freedom," which is why he employed Friedman's ideas.

The Junta was overthrown as a result of the Chilean labor movement, which used direct action to force the circumstances under which the 1988 plebiscite was held (while it obviously wasn't a major victory) and Pinochet was kicked out.

[Texfield91]

@00maharum00ma you leftists will ramble on and on about the people Pinochet killed, but give nutjobs like Stalin and Mao a pass when they killed poeple in the tens of millions. to people like you, murder is excusable when committed by leftists.

[00maharum00ma]

@Texfield91

That's total bullshit! I've always said that Mao and Stalin were totalitarian monsters, and never defended them. You're making shit up about me in order to distract from the fact that Friedman aided and abetted a fascist!

[goPistons06]

@00maharum00ma he didnt aid pinochet, he simply gave him advice on how to stop inflation.

[jjimenezcivil]

una representación del maquillaje social en Chile. (los últimos minutos)

[heavym3tal]

In the past week I have talked to people aged 20-60, and very few of them have even heard of Friedman's book or T.V. series "Free to Choose." I have been recommending that they see it, as it is the best argument every to a centrally planned economy.

[goPistons06]

i live in chile and i've spoken to people who lived here before the market reforms and from what i can tell evryone is now better off. there is a lot to be done, of course, but markets improved without a doubt chile.

[pepetv1000]

In Chile the free market ideas have bring a big transformation of chilean life so we can have a better life, as a chilean I say thanks to Milton Friedman

[guyjohn59]

They need to rerun milton friedman's free to choose, and update it with segemnts like this that work in his late interviews.