I’ve written critical columns about the failure of Venezuelan socialism and I’ve written laudatory columns about the success of Chile’s free markets reforms.
Today, let’s compare and contrast what has happened to these two countries.
Here are two maps of South America showing per-capita economic output. Amazingly, Venezuela was more than twice as rich as Chile in 1980 but now Chile is more than three times as rich as Venezuela.
At this point, I normally would pontificate about the meaning of these two maps.
But there’s no need for me to write anything because the person who shared them on Twitter (X) nailed the obvious takeaway.
Game, set, and match. Economic liberty trounces statism.
The same message that you see in this chart.
P.S. If you want to learn about Milton Friedman and Chile, click here.
