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The Overwhelming Case for Chile’s Private Social Security System

The United States and other western nations became rich during the 1800s thanks to a combination of rule of law and very small government. Sadly, very few nations – most notably East Asian tiger economies – have become rich in the modern era. Yes, some other countries have grown, but they are not on a path to converge with rich nations. Chile, however, may be an exception to that unfortunate pattern. It has enjoyed amazing levels of growth since a shift to free-market policies starting about…