Pinochet's inequality miracle
February 18, 2018
Economists don’t agree about the economics of dictatorships: some claim that the lack of checks on the executive and the widespread repression of political voice provide an institutional framework encouraging rent-seeking and stifling growth, whereas others think that it is precisely the lack of political accountability to the electorate that allows for economic policies that make technical sense and are conducive to growth but would not attain political consensus. Economic historians, whose job description allows them to focus on cases rather than on general rules, can point to examples supporting both theses (or neither).
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