Michelle Bachelet handily beat Evelyn Matthei in Chile's presidential election contest in what the New York Times is calling a landslide, 62% to 38%. This will be good news for populists and those who side with a demand side focus.
The Chilean economy has enjoyed respectable growth in recent years with commodities exports making a substantial contribution to Chile's economic fortunes. But like many countries, particularly those enjoying large contributions from commodities exports, income inequality has been a policy challenge in Chile. Keynesians, and even the IMF seems to be nodding its head toward Keynes lately, would tend to line up broadly with a middle out growth strategy such as that which Ms. Bachelet would seem to be indicating.
Ms. Bachelet appears poised to pursue an aggressive policy agenda including proposed constitutional changes. Chile is going to be an interesting story to follow. For the young and ambitious a move to Santiago might not be your least option.
Read more here:
No comments:
Post a Comment