 Chile became, I'd say in the 2000s, the richest country in Latin America, as I said. And it's interesting that people in Chile were not satisfied with that. They were not happy. Starting in the 20 teens, primarily, there was a big outcry about inequality, even though the poor in Chile are doing better than the poor in other places in Latin America. The rate of poverty in Chile is significantly lower than other countries in Latin America. Inequality became a big issue. At about the same time, it became a big issue in the rest of the world. And they started demanding significant changes. They started demanding a shift away. I remember seeing a talk by Jose Pinerra at a Montpeleran Society meeting, oh God, this is probably close to 10 years ago, maybe a little less, maybe seven or eight years ago. And Jose Pinerra basically said that the successful people in Chile, the rich in Chile, Jose Pinerra, the architect of the privatization of Social Security, were feeling guilty. Guilty for their success, guilty about the inequality, guilty that they were so rich and there was still poverty in their country. In other words, the tentacles of altruism were deep in the culture. Chile is a Catholic country, very Catholic, as much of Latin America. And it's impossible to sustain freedom. It's impossible to sustain capitalism in an altruistic culture. I think this will happen in Argentina as well. You know, as if Argentina holds on to its altruism and Catholicism, then no matter what reforms Millet actually passes, ultimately they will feel guilty about them. And that guilt ultimately manifests itself, manifests itself. Tentacles is not good, Chandler is making fun of my tentacles. It manifests itself in the Chilean people voting and starting to demand a return to some of the socialist policies of the past that it clearly failed. It got so bad that, you know, a few years ago they demanded a constitution, a new constitution, a constitution that undid the reforms. I mean, the reforms are pretty deep, even to the extent that schools here, there's a lot more privatization or semi-privatization of the schooling system. There's a lot more private health care here than there is in any other place in Latin America. So they demanded that there be a constitution convention to undo the liberalization and they landed up electing a leftist Marxist president. Now, what's interesting is that when the leftist Marxist president came into power, that the Chilean economy started doing poorly, crime rates started to increase, and people started to regret their shift to the left. I don't think they regret their opposition to the liberalization, but they don't like this president. Partially because of their regret around the shift to the left, when a constitution was presented to them, they would undo the reforms of the liberalization and would make Chile a much more socialist country. They turned that down, they voted against it. It's interesting though that when it went back to the Constitutional Convention and they adopted a right-wing constitution, a much more religious constitution, constitution of the banned abortion and things like that, and that came to a vote, they voted that down, so that's good. It seems like the Chileans are not ready to embrace statism of left or right, at least not at the Constitutional level. And now the current president is very unpopular, I think his popularity is lower than that of Biden. I think his approval rating is something like 25%. And in the coming election, it's likely that a right-wing status will be elected. It would be amazing if maybe inspired by the election of Milay in Argentina that somebody with a more free market credentials gets elected, so we don't have a right-wing status replacing a left-wing status, you know, big deal. But so it's going to be interesting. I will know more about the political situation in Chile in the next few days as I meet Chileans and as we talk about these things and I get a lot of insight from the locals. This is more me speculating right now than anything else. But they do seem to be some strong candidates who are likely to defeat the leftist president in the coming election. Obviously some of the reforms have been undone. They are, the momentum of reforms has slowed. Economic progress has slowed significantly. And while Chile is still a relatively wealthy place, and you can see it looking out the window at how many new buildings they are here and how much cleaner and nicer Santiago is from the perspective of just, you know, expression of wealth, then let's say Sao Paulo or Buenos Aires, it's a smaller city, but it's, yeah, I mean, it looks much nicer. That, you know, we will see what happens with this. It's a great experiment and it's really fascinating to see how altruism, you know, pushes the country, even though it has clear and equivocal proof that free markets have helped, free markets have improved people's condition. And they also have neighbors like Venezuela that have embraced socialism and gone from the richest country in Latin America to the poorest one. And they've got other countries that have declined dramatically in terms of wealth like Argentina and like, in relatively speaking, to Chile, like Ecuador and others. You would think they would have learned these are the policies that are good. But if your standard is not individual, human, flourishing, if your standard is not individual, well-being, then, yeah, if that is the case, then it's, if that's not the standard, then if altruism is the standard, if guilt is what drives decision-making, then people are willing to give up the wealth, the prosperity, the flourishing, the freedom in order to feel less guilty. And that's so far the story of Chile. We'll see what the next decade or so bring and how it develops in particular, how it develops in contrast to what's going on in Argentina. And again, who knows how things in Argentina can evolve, but and how much they'll be able to get done. But I'm cautiously optimistic about that. And the contrast with Chile is going to be interesting. Both Chile's past and Chile's future is going to be interesting. All right. That was just a quick rundown on modern Chilean history. And I'll have more to say about Chile, I think, after I get to talk to the Chileans and get some feedback, including tonight over dinner after we finish the show. All right.