Highlights of this book
- Latin American countries, especially Mexico, Chile and Argentina, have dramatically improved their economies since the early 80’s. The value of the Mexican stock market jumped from $15 billion in 1988 to $146 billion at the end of 1992. Argentina has controlled inflation and achieved economic growth. Chile had 8.2% economic growth in 1995 even after eleven years of continuous growth.
- The economic benefits of the expansion have helped all levels of society. The middle class is growing, and governments are able to devote more resources to helping the poor because they are no longer paying for the losses of state owned corporations. For example, the Chilean healthcare system, which is mostly privatized, has worked. Chile’s infant mortality rates have fallen from 74 deaths to 17 deaths per thousand between 1970 and 1992.
- The market-oriented programs have gained widespread support from the general citizenry. A December 1991 poll in Mexico found that “56 percent of the population ere favorably disposed toward the government’s reorientation of the economy to the private sector.”
- The developed world is partially responsible for the earlier failures of Latin America’s attempts to achieve prosperity because of its insistence on failed government solutions. The World Bank estimated in a report released in 1993 that only 26% of its projects could be deemed successful. To prevent further mistakes, the World Bank and other international governmental lending organizations should be disbanded or privatized.
I am a student of Administration in UCG.. all this 3 years i saw how a lot of teachers who had their own business talk about how good is Capitalism... The real thing is that i want to start my own business and if i need to chose between Capitalism, Socialism, Communism, well, i chose Capitalism.
What do you think?
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