Bachelet Resists Calls to Spend Chile’s Copper Profits on Poor
…Milton Friedman, the University of Chicago Nobel laureate in economics whose ideas were a backdrop for Chile’s economic transformation, says Bachelet is right to avoid a spike in spending as the copper price rises.
Friedman: Cut Taxes
“The temptation when you get all of this money is to try to use it to increase government,” Friedman, 93, says. That temptation, he adds, should be resisted. He recommends that the copper surplus be used to reduce taxes. And in the long run, he says, Chile’s government should get out of the copper business by selling Codelco. The government has no plan to sell the company.
bloomberg.com
Yeah you don’t want ‘big government’ fixing schools or anything crazy like that. Privatize. Sell off your government to the highest bidder…well, not necessarily the highest, just the best connected…it’s the American way.