"Yet most of them started ages ago, when the machinery needed were much simpler and less expensive"

In many industries, capital costs are much lower now (in real terms) than they were in the past.

Admittedly, regulatory burdens are MUCH higher now than in the past.

"No doubt Kissinger and Nixon sabotaged the Allende administration"

For many years I had no strong opinion on the Allende administration, but when I finally got to see a contemporary account of all that went on in Chile at that time, what can I say? Allende sabotaged himself - with considerable help from his followers, of course. I should note that this was a pro-Allende account distributed by his followers.

It was really astonishing, seeing these "revolutionaries" discussing all their "successes", which consisted of theft, seizing industries and running them into the ground with no plan to last longer than a month, and gloating about how they managed to "win" elections despite getting a minority of the vote. They dismissed the value provided by management and professionals, and even noted that the most-skilled workers opposed their revolution, but never paused to imagine that they might have any reason beyond greed - and meanwhile proceeded to use up all their reserves without replenishing them. Meanwhile, Pinochet showed considerable restraint and only acted when he had no choice if he wanted to prevent catastrophe, and offered Allende and his supporters many chances to leave power peacefully but was rebuffed - and for that he is remembered as the villain. I came away from that account thinking Pinochet was one of the great heroes of the 20th century. He doubtless saved many lives.

This is not to say that Chile does not have any problems. Of course it does, just like every other nation, but it has clearly come a long way from the brink of disaster which Allende led it to in 1973.




Baldur