Chile's Failed Economic Laboratory

an Interview with Michael Hudson for Counterpunch By STANDARD SCHAEFER In acknowledging the recent thirtieth anniversary of the US-sponsored coup that brought to General Augosto Pinochet to power in Chile, a number of articles and opinion pieces have appeared. The Nation recently cast the incident in somewhat sentimental terms. Such efforts to turn Salvador Allende's death into a martyrdom for democratic socialism obscure the most important legacy of the coup. Not only did it give rise to one of the twentieth century's most violently repressive regimes, it inspired subsequent financial dictatorships to use privatization schemes to consolidate their power. As economic historian Michael Hudson pointed out to me, a recent interview in the Moscow Times (October 1, 2003: "Corruption, Chechnya: The Price We ...