Quote

Capitalism without failure is like religion without sin. Bankruptcies and losses concentrate the mind on prudent behavior.

Allan H. Meltzer

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Allan H. Meltzer
Age: 89 †
Born: 1928
Born: February 6
Died: 2017
Died: May 8
Author
Economist
Historian
Professor
Boston
Massachusetts
Allan Meltzer
Allan Harold Meltzer
Loss
Losses
Liberty
Libertarianism
Religion
Concentrate
Without
Libertarian
Mind
Capitalism
Like
Sin
Bankruptcies
Behavior
Bankruptcy
Failure
Prudent

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The reason is that Chile is the brightest spot in Latin America. It has very fast growth, low unemployment. It privatized its Social Security system, which we in USA were unable to do.
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There is a flaw in the operation of representative government. The flaw produces the growth of government.
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