Michael Perelman wrote: > > Just read the rave reviews the right gives Pinochet for trailblazing this > form of "reform." > -- Does anyone out there know of any sources or any individuals who know the REAL results of the privatizing of Social Security in Chile --- Chile went through a terrible few years in 1982 and right after when the whole "Pinochet miracle" unravelled and virtually the entire banking system had to be rescued by the Central Bank. Since then, I gather the "economy" has grown though I haven't seen any income distribution, nutrition, life expectancy, infant mortality and other significant social indices since then. The privatization of Social Security "works" so long as capital values grow faster than the economy as a whole. Since in the end that CAN'T GO ON FOREVER, Doug is absolutely right it's just a new version of a Ponzi scheme. Since Chile has been at it for a long time, I'd be really curious if anyone with a radical perspective has studied that system. Thanks in advance, Mike -- Mike Meeropol Economics Department Cultures Past and Present Program Western New England College Springfield, Massachusetts "Don't blame us, we voted for George McGovern!" Unrepentent Leftist!! [EMAIL PROTECTED] [if at bitnet node: in%"[EMAIL PROTECTED]" but that's fading fast!]
