At 6:01 AM 2/19/96, Mike Meeropol wrote: >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. There's quite a bit on this in Chile's Free-Market Miracle: A Second Look, by Joe Collins and John Lear (Food First Books), though it doesn't really have much to say about the post-Pinochet era. Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: <[EMAIL PROTECTED]> web: <http://www.panix.com/~dhenwood/LBO_home.html>
