Prudence as a National Consensus

Prudence as a National Consensus

Chile

Nicolás Eyzaguirre is right to be modest about his achievements as Chile's finance minister, even though he has kept the country growing through Latin America's worst crisis in many years. Argentina, Chile's neighbor to the east, is sunk in a depression. In Peru to the north, protesters are attacking the government's pro-market policies. Bolivia and Brazil have little to show for their years of reform. How was Chile able to find the road to stability and stay the course when so many South American countries have stumbled, declaring free market reforms unworkable or unjust? Many forget Chile's turbulent recent history. In the 1970s it suffered under far-left Socialist President Sal

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