3 ms·
The largest company in Chile is the copper mining company Codelco, which is the largest copper producer in the world. It's 100% state owned. There's also the st
by stevebmark 5y ago
The largest company in Chile is the copper mining company Codelco, which is the largest copper producer in the world. It's 100% state owned. There's also the state owned energy and oil company ENAP. Pinochet's Friedman experiment failed so strongly that Pinochet was forced to nationalize parts of the financial sector.
Kidding aside, Friedman and Pinochet did not bolster Chile's economy.
- disambiguation 5y agoChile today has the 2nd largest GDP in south america and is comparable in economic freedom to South Korea. Consider their cousin Venezuela that also has nationalized resource industries but has otherwise promoted policies contrary to Friedman's advice. As a result they have economic conditions comparable to North Korea. To say Chile's economic success is only due to nationalization of industry is inconsistent with the outcome.