Chile would be even better off today had it adopted Mises-style laissez-faire over Milton Friedman's monetarism. But even a Friedmanian regime is far superior to the Keynesian economies that have ruined Argentina and Brazil.
China’s stealth devaluation is not making the country more competitive, it is making household and corporate debt riskier as the purchasing power of the yuan is diminished.
Emerging-market currencies often suffer a as a result of their government's own profligacy. But the US is also actively trying to destabilize some currencies, and setting up a conflict that the US could ultimately lose.
“Between 1950 and 2000, the Swedish population grew from seven to almost nine million. But astonishingly the net job creation in the private sector was close to zero.”
