In Economists’ Paradise, Lessons for US

Governor Patrick visited Chile this month in an attempt to enhance the state’s collaborations with Latin America in education, clean energy, and biotechnology. But I hope he looked around, for Chile has plenty of lessons to teach America. That country has long allowed economists to reform its infrastructure, social safety net, and education system. The Chilean experience illustrates the great strengths of the economics field, especially its insights into taming the public leviathan. But Chile also illustrates its besetting weakness - tolerating massive inequality.