The Editor's Letter

Chile is a young country,” said winemaker Françoise Massoc, “and I find that exciting. Chile very much seems a combination of Old World sophistication and New World experimentation.”

Even to a visitor, Chile seems like an interesting combination of past and future. The economy is stable, unemployment is low and, thanks to copper production, in which it leads the world and has 54% of the market, Chile has no debts. Strangely, Chile’s wealth can be attributed to two former presidents, neither of whom receives a particularly good press: Salvador Alende and Augusto Pinocet. Alende nationalized the copper mines, and Pinocet put in place the incentivized tax regime, using young economics students whom he sent to Harvard for training. This regime remains in place today....